Why didnt jet airways hit upper circuit today ?
89% up in last 15min
It is still an FnO stock, at least till June
There is no fixed price band applicable for stock futures contract. However in order to prevent erroneous order entry, a dynamic price band for futures contract is kept at a certain percentage of the base price as defined by the Exchange from time to time. In the event of a market trend in either direction, the dynamic price band is relaxed by 5% at a time in the direction of the price movement during the day in coordination with the other Exchange as follows:
a. If the dynamic price band of the underlying security has been relaxed OR
b. If the last trade in the contract occurs at 9.90% and more of the base price
AND
A minimum of 25 trades have been executed with 5 different UCCs on each side of the trade at or above 9.90% or more of the base price. This process is repeated as the price trend moves in the same direction.
c. In exceptional circumstances, all the exchanges consult and relax the dynamic price band.
1 Like