If I place an BUY LIMIT ORDER for NIFTY Futures at 7850 at 1.30pm, and if at 1.45pm market breaks up & jumps from 7849 to 51 without having any trade at 7850, what happens to my order?
In case of buy LIMIT ORDER at say 7848.25 with quantity of 1500 nifty fuutures, what happens if there is supply of only 750 quantity? Does my order remains unfulfilled?
- If you place a normal LIMIT BUY ORDER at 7850 and the current market price is 7849, you order executed immediately at 7849. The logic is why would you pay 7850 when it is available for 7849.
If you are looking to buy only on breakout, you need to use STOP LOSS LIMIT BUY ORDER.
In this case, If the markets breaks out from 7849 to 7851 Your STOP LOSS LIMIT BUY ORDER trigger places a LIMIT ORDER at 7850 and stays open till it becomes available again at 7850.
- NIFTY Futures are sold and bought in single lots and not divided further.
Hope this helps.