Say if a current price of a Particular stock is Rs 400
I want to buy the stock only if it goes to 402 , Can i set the price at current time
If ‘yes’ than How
I tried to place limit orders @ 402 ,but whenever i tried the stock always got executed @ the current market price of 400
Yes, you’ll however have to use the "Stop Loss’’ order to place such orders.
If you are using:
a) SL-M: Select the trigger price as 401 and submit the order. This way when the stock hits 401, your buy order will get executed at the market price.
b) SL: Select the trigger price as 401 and enter the limit price as 402. When the stock hits 401, your buy order will be sent at 402, if there’s a corresponding seller available at 402 your order will go through.
Be sure not to place SL-M orders for illiquid contracts/scrips.
There’s more here: http://zerodha.com/z-connect/tradezerodha/zerodha-trader-software-version/stop-loss-orders-limit-market
Beautifully, answered. thanks.
Thanks Sudesh 