I bought a share( CNC) at 252 of XYZ company. I planned for a month vacation. I want my share to be sold automatically if the price drops to 245 or reaches 270 . As I won’t be online always, how can I have this automated sell order ?
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Hi Amit, as of now you cannot do this.
The best possible alternative is to set an alert with price triggers which will alarm you when the price crosses a certain level. Upon receiving the alert you can call your broker and square off the position.
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Hey there Amit. Yes, you definitely can with ICICI Direct, nowadays they have improved a lot. With their VTC (Valid Till Cancelled) order you can definitely relax and enjoy your amazing vacations.
Alternatively you can try mobile platform as well if you are comfortable with that. Most of the trading platforms do have a mobile version. You can use moneycontrol app or some other similar app to create watch list and track the stocks you trade. Then use the trading app to place the orders.
Also if you have good relations with your broker/relationship manager, then you can leave a note with them or drop them an email with clear instructions and they will be very glad to help you out.
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I meant to say what if I am not able to keep an eye on stock market. Can I give a sell order which will be executed as per my instructions.
In that case, you will need to have account with one of the local brokers or full service brokers who provide Relationship Managers who take care of this type of scenarios.