The earlier method was the best. There is lot of liquidity in f&o stocks. Dont know what was the need to do all this
So many algos which are based on spot market will go for a toss now. If we open as per gift nifty, a simple 80 points gap down will now look like 200 points gap down as per spot. I am sure algos won’t know what really happened.
I am working overnight today to fix my algos!
@Siva @Nithin, please expedite this. The limit in the CAS is ± 3%, so there might even be a scenario where the closing price is far away from the price which is there at 3:15 pm. Talking mainly about the index here.
Right now, this seems to be the only thing which can give some sort of indication as to where the price might end up. I read that one or two brokers have already started showing this.
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We will also try to show indicative close on nudge of order window ASAP and in couple of weeks we will bring it onto market depth.
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@siva charts are loading without the proper closing bars in kite web. the last candle is 3:10pm for NSE category 1 stocks of CAS
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SEBI has given a massive opportunity to institutional players to close the market at their target price on expiry day, enabling them to make huge profits. Previously, they had to aggressively buy or sell throughout the entire final 30 minutes to achieve their target price. However, with the new Closing Auction Session (CAS), they only need to manipulate trades in the final minute of the session to successfully close the market at their desired price.
instead of last 30min vwap, they should use whole day VWAP. no CAS, no BS
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This system is too inefficient .At least going by first day. The prices are all over the place. The issue is liquidity is low so lot of names in 200-250 f&o stocks can jump or go down without any significant volume being traded. The closing price derived can be utter garbage for majority of these stocks.
Rather than acknowledging this fact, Nse & Bse are congratulating themselves for milestone achievement. How naïve and irresponsible can they be. Open your eyes and see what happened. They need to roll this back immediately unless they are sure that this segment will be liquid.
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It is what it is, trading stops at 3.15 for CAS stocks so we do stop charts.No point showing dots for next 15 mins is what we believe. If one want to see close can open day timeframe.
but even in intra timeframe, the 3.25 or 3.30 candle should show the actual close right? even in index it is the same behaviour, it shows the last closing.
Next day % gaps in intra are also from that level.
For example, Divis is down 3%, but there is no gap on the chart. This is even worse.
LTP is technically the CAS price, not 3:14:59. Similarly, for intra trader, open price matters, so the first tick on index is from the pre-open session, not the first tick from 9.15am,
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No trade till 3.30, we get tick around that time only so till that time it will be blank space only.
If we show all those dashes then charts looks even weirder and all indicator values go haywire, only way i to see close s to see daily time frame charts, also for same stock for daily time-frame NSE and BSE will have different charts.
Lets wait for few more sessions, will see if there is a better way to show charts.
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You don’t have to show dashes though. Already, We are not showing dashes between one day and next open. Couldn’t you do the same - show the closing anyway, at one point at 3:35 without all dashes? Right now, closing price is completely missing from all intraday charts.
Lets see if we can merge close to LTP in last candle of the day, if we do this in whatever time frame that candle will be a bigone, up or down and charts,indicator values looks wierd.
For CAS instruments, the exchange refreshes price bands by 3:20 PM based on the reference price, and these updated circuit limits will be served via the /quote endpoint and other CAS-related fields will be added in the coming weeks.
The limit in the CAS is ± 3%, which is quite large.
There should be no scope for manipulation within the last 15 minutes if it is reduced to ± 0.1% band.
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Actually, tightening the band would just shift the manipulation earlier. It would become even easier to push prices around between 15:00 and 15:15, which would then effectively decide the closing price, hence making things worse than they were before CAS. So the range needs to be wider.
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on monthly expiry there will be volatility in FUTURE contracts if price go +/- 200 like yesterday to match with index.