Basket Order Requirements
1. Setting Trigger Time
To add a specific trigger time for your active order (instead of the default market open at 9:15 AM):
- When creating your basket order, look for the “Trigger Time” field (shown in the image with an empty field next to “Trigger Time: _____”)
- Click on this field and set your preferred time
- This ensures your order executes at your strategic time rather than automatically at market open
- Setting a specific trigger time helps avoid potential losses from market volatility during the opening minutes
2. Auto Strike Selection
The basket order can be configured to automatically select ATM (At-The-Money) strikes when triggered at your set price:
- When setting up your NIFTY options basket order, enable the “Auto Strike Select” feature
- Configure your trigger price (shown as 24,900.00 in your example)
- When the underlying reaches your trigger price, the system will:
- Automatically identify the closest ATM strike based on current market price
- Execute the trade with the selected strike
- Process the order according to your basket parameters
This eliminates manual strike selection and ensures you get the most appropriate option contract when your trigger price is reached.