NEVER Place Market Orders : Place ONLY Limit orders

[whyLately]

Today's Nov futures chart of Minifty at 11:48 ...

The time, near 11:50 am, needs keeping an eye on for faulty NSE quotes on their webpages as well. See this page as well.

In QuoteTracker, that reads quotes from the NSE website, this is easy to spot if Preferences -> Charts -> Miscellaneous - Spike Filter is set to 100%.

Does NSE run some database process at this time? Maybe, pre-auction. It is surprising that this affected the broker data feed.

 

[trader.trends]

Same with me too, so I too thought that is for subscribers only.

murthymsr

Sorted out. Does not open in Firefox but opens in IE(Damn, damn, damn!!!). Gave up Windows long time back.

 

[murthymsr]

Sorted out. Does not open in Firefox but opens in IE(Damn, damn, damn!!!). Gave up Windows long time back.

Thanks, tried & getting IE. On clicking this chart, IE installed/updated Adobe Flash Player before showing up.

But why not in fitefox? In firefox, how to install/update Adobe Flash Player? any add-on for this? Where, in firefox settings, do we find the option to install required software on demand? Probing into these areas may give a clue to show up charts in Firefox also.

murthymsr

 

[bandlab2]

how can an index fall 100 points in 1 sec. index is sum of 50 stocks.

it could happen in individual stocks

nevertheless, avoid maket orders

 

[nareshch]

Re: An example from options

The basic advice on taking the effort to place limit-orders or stop-buy/stop-loss orders instead of market orders seems good whatever the case.

I have an example from 27th Oct, before expiry. Market was breaking down rapidly and had broken 4900. At that time, Level II showed no sellers 4900PE and 5000PE.

Now this could have been a broker's data problem. But 5000PE showed no sellers on two occasions and less than 5K selling volume for about 2 mins so it is unlikely that this is erroneous data.

Wish I had a 5000PE to sell (did have the time to take a screenshot). It would have been a nice experiment to place a limit sell @200 to check if it filled somebody's market order.

(Apologies, the screengrab is wide).

Derivatives have a circuit filter at 100% . The instrument which hit 100% will get locked and NSe will open it for trading again after few mins .As 4900 PE and 5000 PE reached 100% , the trading is locked . It will be reopen after few mins .Thats the reason you see there were no sellers. And also it wont allow you to put a sell order at 200 .Try and see next time .You will see this may times when nifty moves 100-200 points in a day .

Naresh

 

[trader.trends]

how can an index fall 100 points in 1 sec. index is sum of 50 stocks.

it could happen in individual stocks

nevertheless, avoid maket orders

When large scale basket selling is done, index can fall very very rapidly.

 

[whyLately]

Re: An example from options

Derivatives have a circuit filter at 100% . The instrument which hit 100% will get locked and NSe will open it for trading again after few mins .As 4900 PE and 5000 PE reached 100% , the trading is locked . It will be reopen after few mins .Thats the reason you see there were no sellers. And also it wont allow you to put a sell order at 200 .Try and see next time .You will see this may times when nifty moves 100-200 points in a day .

Thanks. Great info. Would like to understand this right ...

1. After locking for a few minutes, what is the circuit changed to?
2. What is the limit for the lower circuit?
3. Is there a reference on the NSE website (or elsewhere) for this behavior / procedure?

My reference so far has been as per trading terminal. For example, yesterday 4900PE closed at 110.50, today @ 98. The terminal shows a range of 0.05 - 289.40. How is this to be interpreted?