RIL plunges 20% in freak trade

[bunny]

Impossible... It would have hit only an order that would have been punched in advance, most probably by service people, who enter their orders and go to work.

Nice joke, a person owning 62000 shares of RIL and still doing a service 9 to 5.

 

[magnet]

Nice joke, a person owning 62000 shares of RIL and still doing a service 9 to 5.

Ya Also since he was about to sell ICICI hence he must be owning the same too...So 7 crore worth of reliance and 5.5 crore worth of icici and still he goes to job...LOlzz :lol:

 

[sumosanammain]

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[sumosanammain]

xfgjfyksykykstykstyuk

 

[findvikas]

Yes of course it would hit the order which were punched in advance but will not hit the orders of retail traders unless they punched it to buy @ market with a specified trigger price. It will hit "ONLY" yes ONLY those orders which had been

1) punched in advance
2) had a BUY @ MARKET
3) and most importantly had a trigger price below 1000


See how it works.. Copy paste from here
http://www.traderji.com/position-trading/40679-6th-may-16987-bears-enter-8.html#post439821

BSE/NSE (like most automated stock exchanges) process order on Price/Time Priority basis while the dealers orders take preference over retail orders.

Usually such bulk deals happen "at market price" which means buyers are willing to buy at any price available. For eg. Reliance has a major support at 970 level FII/DII/Market Makers will place Bulk order near major support levels with a predefined trigger price... say the trigger is 965 & order type is BUY 50,000 shares AT MARKET

Now it wont get triggered unless the order book has a SELL ORDER <= 965 in this case it was way below this level and the so called "intelligent" auto matching system will match these guys together.. and the buyer gets a discount of over 200 rs.

If the seller is selling 62000 shares at 840 while the bulk buyer is at 965 with 50000 shares then remaining 12000 shares will go to anyone even those who are willing to buy at 1020 level while they get to pay only 840... huge discount...right?

 

[magnet]

Read my reply to bunny above.....

Sorry i took in wrong sense and thought other way

Apology if it hurt...

 

[sumosanammain]

sgbsjtykryulryuilrruil

 

[findvikas]

Normal brokers do not allow 20% range I guess... not sure but last I checked was quite a long time back and I am not sure. Yes, I mixed up that trigger price with sell orders..

the core idea was that only market makers keep orders like that in the order book to protect the market otherwise if RIL was to hold below 850 mark for even a minute it could have triggered a panic button and real blood on streets.

 

[bunny]

You didnt care to understand my reply... did you?

I said the people who BOUGHT I repeat for your convenience... B for bunny O for orange... U for Umbrella G for Goa ... H for Hyderabad.... T for Tokyo...... B O U G H T

People generally key in orders to buy 5 or 10 % below last closing and LEAVE spelt as L E A V E for service. Those were the lucky people who had orders already resting in the market whos buy offers were touched by that freak order.

Another interesting fact for you.... I know of at least 10 people who have shares worth more than 5 crores but are working as CEO's.... MORE spelt as M O R E than 9 to 5.

Sorry, my bad reading!