Why nifty jul fut made a high 16546 but nifty spot was not so high. What should we conclude from this?. How much shares were traded at such high price
That is likely a fat finger trade, means by mistake. Around 1200 lots traded at that price and I guess that trade might have been cancelled by nse.
So, we should be alert on placing market orders especially at opening time.
There was an article, which contained NSE’s statement about this matter -
In its response, the NSE said: “A dealer placed a manual buy order for Nifty near month futures in the first few seconds upon opening. Since the order was within the operating range it matched with existing sell orders in the book. Two trades got executed at a price within the trade operating range. After the above execution, the above mentioned order entered the order book at the limit price with the pending quantity. The dealer subsequently cancelled the order. Meanwhile, other orders from a few members were entered at a price which was outside the trade execution range but within operating range and were not executed since they were outside the trade execution range. These orders were subsequently cancelled.”
The NSE said it had sought explanations from members. “We would like to reiterate that NSE systems functioned normally and all orders were executed as per the prescribed operating and trade execution ranges,” it said.