Suppose I have Buy SBI BANK at 500 through MTF and I have placed Sell FOREVER Order at 498
I want that if the market comes to the sell price decided by me in the PreMarket Session, then my holding taken with the help of MTF should be sold.
I want to protect myself from losses on GAP DOWN openings.
Is it possible, I have taken DDPI.
Currently, forever order is not available for MTF holdings.
In case you have Demat holdings and set a Foreover sell order at Rs. 498, but if market opens with a gap down, let’s say at Rs. 495, the order will get converted to limit order. Accordingly, it will wait for price to come back to Rs. 498 for execution.
@JayK Sir, I wanted to reconfirm on your above reply. So If the market gaps down than the forever trigger price, so the system will automatically place the Forever order to a limit order on the trigger price. In this case, I have set only trigger price of 498 (market order not limit order) in forever order.
How this will execute.
I have confirmed the same from the support team and they said, the order will not trigger. So this is a rare secenrio and just wanted to confirm how the system will tackle it.
Yes, If the market open gap down then the order will be default converted to a limit order. When the price reaches again to the desired price n the order will hit.
Hey @Ravinder_Sharma ,
Forever orders with OCO are now available for MTF & Equity. Read more here - Now Live: Forever Orders with OCO (for MTF & Equity)