Say now cmp is 350 and i need to place a sell order if the market reaches 345 . If i open a new sell order with limit price at 345 the order is filled immediately, but i need the sell order to be executed only if the price reaches at 345. And also pls explain what mistake i am doing with sell limit order.
Hi,
A sell order with limit price 345 means
U r telling the exchange to sell stock at or above 345, since the CMP is 350 i.e higher than 345, Ur sell order is filled immediately.
For sell below than CMP i.e. in Ur case 345, U should use Stop Loss Sell order
Ur Stoploss sell order will executed only when the CMP goes below or reaches 345
Same way for Buy above CMP, U should use Stop Loss Buy Order