Today I have buy Tech Mahendra Feb Future @ 586.00 with sell sl market order @ 583.00 at 09.26 am. The Sl triggered and the scripts sell at too long @ 575.00 at 9.31 am and Loss of 13200. Is no price available for sell between 583 and 575 for nifty stocks ?
A STOP LOSS SELL “LIMIT” order would have avoided this situation, if a fill was available at the LIMIT price.
Allegedly there are algorithms that can see if a Stop Loss is placed with a Market or Limit condition and can trap the seller in heavy losses.
Once again “Allegedly” and "not conclusive. "
But it is already SL MARKET order
You should have used SL - Limit sell order, the mistake you did was to trade when the market opens within the initial 30 minutes there is price discovery happening and it’s very volatile and difficult to trade. Your SL was very tight as well at .7% and when market SL triggers you can’t predict prices although after 10 am this kind of difference wouldn’t have happened.