What are the different order types available on Kite and how are they executed?
An order type signifies the nature of instruction given to a stockbroker to execute transactions. The following order types are available on Kite:
- Market: A market order is an instruction to buy or sell shares at the current best available price. To learn more, see What are limit and market orders?
- Limit: A limit order is an instruction to buy or sell shares at a specified price. The broker is instructed not to go higher or lower than the specified price. To learn more, see What are limit and market orders?
- Stoploss: A stop-loss order is an order placed to limit losses when there is a concern that prices may move against the trade. To learn more, see What are stop loss orders and how to use them?
Along with the above order types, clients can also use Good Till Triggered (GTT) and After Market Order (AMO) features. To learn more, see What is the Good Till Triggered (GTT) feature? and What is an AMO and how to place it?
Which order has the best possibility of execution?
Market orders have a higher chance of being filled. When an order is placed during market hours, it gets executed on a first come first serve basis. To learn more, see Why did the limit order not execute even though the share price matched the order price?
Clients can place orders in the pre-market sessions or use AMO to be ahead of the queue. To learn more about pre-market session, see What are pre-market and post-market sessions and orders in NSE and BSE?
Did you know?
Despite placing an AMO or pre-market order, an order is not guaranteed to be executed. This is the same across all brokers.