I placed AMO Market sell order for “ALOKINDS” (please no hate) and my time is 2020-07-06 15:45:00. Will my order be first in the queue to hit NSE tomorrow morning at 9:00 AM?
Today, I placed a Pre-Market Market order at 9:00:03 but it got into OPEN status at 09:00:31.
And at 09:07:20, status again changed to OPEN and my order type was changed from MARKET to LIMIT. Why does this happen? Doesn’t it put me far in the queue?
Just like you, there will be other sellers putting orders at the same time as well thinking of being ahead in the queue, so no guarantees whether it would be first in line.
This happens when a stock hits Upper or Lower Circuit, your market order would be converted to limit order at the last traded price. Read this to get better idea Why does my market order get changed to a limit order while trading certain scrips?
When order changes from MARKET to LIMIT, does it put me back in queue or I’ll be on same spot?