News - Trading to start at 9:15 am from Monday in MARKETS - With the introduction of a pre-trading session starting Monday, trading in India is set to change forever. One cannot start ...
10-14-2010 10:53 AM
Trading to start at 9:15 am from Monday
With the introduction of a pre-trading session starting Monday, trading in India is set to change forever. One cannot start trading until 9:15 am. Pre-trading session will be held from 9 am to 9:15 am.
Deena Mehta of Asit C. Mehta, who has been a strong advocate of a pre-trading session, says one will know the mood in advance and can plan one's strategy accordingly. It is a small move, but a very useful mechanism particularly on high volatility days. This will matter more when there are sudden major developments.
Other Pre-market opening features:
- No entry, modification, cancellation executed
- Orders accumulated for specified period
- Price and quantity information is shared
- Provisions to discourage manipulation
- Limit and market orders is allowed
- IOC conditions are not allowed
- Iceberg orders are not allowed
- Limit orders prioritised over market orders
- Price banding at 20% applicable
- Circuit filter for continous sessions only
- Open market orders to move as limit orders at open price
Source : Moneycontrol
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