Will stock remain in kitty when SELL limit order fails to go through

#1
Hello,

Im a novice and have an query on intra-day order.

Example, when a share price is Rs.98 and I place an intra-day BUY order with a limit price of Rs100.

Later when the price of the stock crosses Rs.100 I understand that my BUY order will go through. Now if i place an SELL order with limit price of Rs.110 and by end of the day if the stock price never reaches Rs.110 will by stock remain in my kitty or both by BUY and SELL order get cancelled?

In this case will there be brokerage charges applicable?

Thanks!!
 
#3
Request some experienced ppl for advise.

Example, when a share price is Rs.98 and I place an intra-day BUY order with a limit price of Rs100.

Later when the price of the stock crosses Rs.100 I understand that my BUY order will go through. Now if i place an SELL order with limit price of Rs.110 and by end of the day if the stock price never reaches Rs.110 then,

will the stock remain in my kitty (or )
both by BUY and SELL order get cancelled (or)
the stock gets sold by default at the market price at closing time.


Thanks
 

TracerBullet

Well-Known Member
#4
Request some experienced ppl for advise.

Example, when a share price is Rs.98 and I place an intra-day BUY order with a limit price of Rs100.

Later when the price of the stock crosses Rs.100 I understand that my BUY order will go through. Now if i place an SELL order with limit price of Rs.110 and by end of the day if the stock price never reaches Rs.110 then,

will the stock remain in my kitty (or )
both by BUY and SELL order get cancelled (or)


Thanks
1) I guess you mean Stop-limit order, otherwise If price is 98 and you are ready to buy for 100, limit order will be executed @ 98

2) Say You go to vegetable market. You haggle with one vendor and eventually bargain to buy lemons for Rs 100. Now the order has been executed - you have lemons he has your Rs 100. He wont take the lemons back just because the market closes at 3:30.
Now you go to many other vendors and try to sell them lemons for Rs 110. But they dont agree. At 3:30 the market closes, so have bought lemons for Rs 100 and not sold them.

=> So buy order was executed. Sell order did not trigger and will be cancelled at 3:30. After a couple of days you will get delivery of your stock.

the stock gets sold by default at the market price at closing time.
Who will buy at closing time if all buys get automatically sold at closing time?

If you buy with intraday margin (MIS order type), then your broker will cover the order at market price around 3:20 ( time depends on broker ). Market price means whatever price that is available.
 

Similar threads