I had executed a basket order of USDINR. I sold NOV Fut & bought DEC Fut, had set DEC Fut limit price above LTP. The Nov sell order got pending but the DEC buy order got executed at price lower than my limit price. (Price set @ 74.85, order got executed @ mkt price @ 74.53).
Can I not set limit order above LTP for long position?
BUY orders are executed with best possible match in the order book.
The executed price can be equal to or less than the limit price specified, but never above the limit price.
When you placed the order, someone is willing to sell below the requested price, hence the order got filled below the requested price.
Thanks!
A limit order allows you to buy or sell at the price you have set or a better price. If you place a buy limit order above or sell limit order below the CMP, it’ll execute as a market order. Do check this out.
To buy above or sell below the CMP, you should use SL orders. More on how to use SL orders here.
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Thanks! 