Currently the Dhan app by default sends market order at 10am for stock SIPs.
Request you to add a feature to allow users to choose their preferred time for SIP order to be triggered at.
Hi @niteenautade We have kept it at 10 AM because market by then is bit stable compared to the volatility that exists when markets open.
We haven’t got or heard any good reasons for us to change the time. SIPs in stocks are from a long term perspective, so prices gets averaged out as you build a big position in a stock over a period of time.
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10 AM is a perfect time. If the stock is bullish for the day, generally it continues its run throughout the day ending up at 5-10% at EOD. If the stock is extremely bearish, the reactions come in at open say it goes to -5-10% and usually it stays that way.
10 AM is statistically appropriate time without complicating the platform too much.
Stock SIPs are intended to be held for long term. The timing wouldn’t affect much anyways.
@PravinJ Stock prices are much better at around 2.30-3pm than 10am. Stock SIPs are not just for long term perspective. They are used for short term tradings as well. We all have our own strategy. Other platforms do provide the option to choose our time.
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Agree @niteenautade
@PravinJ - Platform should provide flexibility and not restrictions!
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@PravinJ
Please add a time element also.
I want to do a weekly sip, so if I select Monday and it is a holiday, then when will the sip be executed? next day or next Monday?