Is this the right way to place order?

F&O
1

Hello, I’m little confused with this. Please help.

Let’s say Reliance closed yesterday at 1950 and I believe it will go up today as soon as market opens. So I want Zerodha to buy 1950 CE for me as soon as market opens (preferably at 9:15:00 itself). For the sake of example, let’s say 1950 CE closed at 102 last day and I expect it to open somewhere around 105-115 today.

So, in order to buy Reliance 1950 CE, that too within first 1-2 seconds of market opening, can I place a GTT buy order at a price much higher than the yesterday’s close price? Like if yesterday it got closed at 102, can I place a GTT buy order at let’s say, 280 so that Zerodha will buy this for me as soon as market opens since market offer price will be much lower than my bid?

I am not too sure if this will work, hence asking. My basic goal is to enter a trade positively as soon as market opens, within 1-2 seconds! Please guide. Thanks a lot in advance.

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2

GTT order is triggered only when the price of the security trades at the trigger price mentioned by you, until then it will remain pending.

If you expect opening price to be between 105 to 115, then you can place a Buy GTT order with Trigger price of 105 and Price of 115, once GTT is triggered a Limit order will be placed at 115, since your Buy Limit order is above CMP this will execute at best available price in the market. You can read this post to know the logic behind this.

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3

I think Market AMO order should do the job.