What are the different order types available on Kotak Neo mobile app?
You can place the following orders using Kotak Neo/KST mobile app.
1. Market
With this order type, you can buy or sell stock at the best available price.
2. Limit
A limit order gives you an opportunity to buy or sell stock at a stipulated price. When you are buying, your goal is to not go higher than the price you have decided. On the other hand, as a seller you avoid making sale below the specified price.
3. Stop loss (SL) and stop loss-market (SL-M)
An SL order passively stays in the stop loss order book of the exchange until the trigger price decided by you is breached. Once the trigger price is breached, this order type functions exactly like a limit (SL) or market (SL-M) order.
4. After Market Orders (AMOs)
AMOs are orders that can be placed after the trading day is over. It is an advance order for the next trading day and is ideal, if you are unable to place market orders during normal market timings.
5. Pre-market
Pre-market orders can be placed before the normal market hours, i.e., between 9 am and 9:15 am. During the first 8 minutes of this window, you are allowed to place limit and market orders. The remaining duration of this window is utilized for matching and confirming trades.
6. Basket order
Basket order allows you to place multiple orders in multiple scrips with a single click. All you need to do is create a basket with multiple orders for the same or different scrips, and club these orders together to be placed in one go.
Whenever you place an order during the usual market timings, order matching in the exchange occurs on price-time priority. So, this denotes that your orders get executed on a “first come first serve” basis, i.e., through a queue system.
If there are investors who have placed orders before you, your order will only get executed when the orders placed previously are filled. If you are trading in scrips that have hit circuit limits or are illiquid, then it might be difficult to get your orders executed.
What is a Buyback/Takeover/Delisting?
My order is getting rejected with the following error – ‘Order price is outside the trade execution range. Try placing the order again
My order is getting rejected with the following error – ‘The order was rejected to avoid self trade. Try placing the order again’.
Why was the stop loss executed even though the price did not breach the trigger?