Let’s say a stock’s prev. Day closing price is 200. The circuit limit for the stock is 10% on either side. And the stock is traded in futures meaning there won’t be any circuit filter for this stock and it can go any % up or down.
Now, let’s say, the stock hits the lower circuit in pre-open period i.e. comes to 180 at 9.07. Now, we all know that we can not place a buy or sell order outside the price band limit. So, now suppose if we want to place a Sl Bo sell order at 178 at 9.15 guessing that the stock will go down further then can we do it?
Yes I know that the price band moves for a future stock when the circuit is hit but by how much? And when? As soon as the circuit is hit? Is it like band moves dynamically as the price moves or is it that there’s some number like by x% band moves further down if the lower circuit is hit?