SirEmail Query from Joshua
Placing a buy order over the previous days high, when the current price is below the previous days high what kind of an order i need to place (limit, SL, SL-M order ).
My limit orders placed over the high are getting executed as market orders, (even though my placed order is way above the CMR).
you need to use SL-M ... and mention trigger price as days high or previous days high
You need to use SL type order joshua.
SL-M orders will be ok if you dont worry about the slippage, or if you have enough liquidity on the stock, you need to set the previous day's high as trigger price and leave the limit price blank.
If you want execution but not above certain price, example if previous days high is 315, you want to buy at 315, but not slipping above 317, then you need to set SL-L order with 315 as trigger and limit price as 317. This will buy anywhere between 315 to 317, but not above 317. Sometimes if your qty is very huge orders might have partially got executed and remaining orders will become pending until the price comes below 317.
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