GTT orders can be placed with the following conditions:
Above: If you wish to place the order at a price above the current price, then select ‘Above’
E.g. Let's say the LTP (Last Traded Price) of BankNifty 36,000 CE option is ₹300 and you plan to buy it only if it goes above ₹350. Then you can place a buy GTT order on BankNifty 36000 CE option by selecting the condition as ‘Above’ and the price as ₹350. You can also add a stop-loss and target along with this primary order.
When the price of the option touches ₹350, the GTT order will be placed at ₹350 and sent to the exchange.
Status on the order book for such orders will be ‘Open’. Once executed, status will change to ‘Completed’.
Below: If you wish to place the order at a price below the current price, then select ‘Below’.
Let's say the last traded price (LTP) of BankNifty 36000 CE option is ₹300 and you plan to buy the option only if it goes below ₹250. Then, you can place a buy GTT order on the BankNifty 36000 CE option by selecting the condition as ‘Below’ and the price as ₹250.
You can also add a stop-loss and target along with this primary order.
When the price of the option touches ₹250, the GTT order will be placed at ₹250 and sent to the exchange.
Status on the order book for such orders will be ‘Open’. Once executed, status will change to ‘Completed’.
Immediate: If you wish to place the order at the current price, then select ‘Immediate’
Let’s say the LTP of BankNifty 36000 CE option is ₹300 and you plan to buy the option at its current price. Then, you can place a buy GTT order on BankNifty 36000 CE option by selecting the condition as ‘Immediate’ and the price field will be auto filled as ₹300 (current price). You can also add stop-loss and target along with this primary order.
These GTT orders will be placed directly at the exchange at ₹300 and the status on the order book will be ‘Open’. Once executed, the status will change to ‘Completed’.
Note: You can edit the price field above or below ₹300.Order will be placed at the exchange at the price defined.