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Why was my sell GTT order rejected in Kite?

The GTT order can get rejected for the following reasons -

1) If you have not authorised your sell GTT using CDSL TPIN.

You need to pre-authorise your delivery sell GTTs using CDSL TPIN if you have opened your account without submitting a physical POA. The CDSL TPIN authorisations are valid for only 1 day.

For GTT, you will have to provide fresh authorisation every trading day after 8 am. We update the holdings on Kite by this time.

2) If your GTT was triggered and the sell limit order placed on the exchange was not filled.

When a GTT has triggered the order is placed on the exchange at the limit price given. The limit order will only be executed if it is filled. For a better chance of execution, make sure to set your sell limit price lower than the sell trigger price. Also, the further the limit price is away from the trigger price, the higher the chance of order execution.

For example

When you place a sell GTT order with a trigger price of ₹ 101 and the limit price of ₹ 100, the difference between the limit price and the trigger price is minimal. If there’s a swift change in the price of the stock then your order might get triggered, but the limit order might not get filled if the price swiftly falls below 100.

On the other hand, if you place the trigger price as ₹ 101 and the limit price as ₹ 99 then there is a sufficient difference between the trigger price and the limit price and even if the market moves swiftly, the chances of your order getting executed are higher.

If you place from the order window, the GTT trigger and limit will be the same. This can be modified once your main order is completed.

3) If you don’t have enough holdings in your Demat account.

If your GTT is triggered and a limit order is placed on the exchange,it will get rejected, if you don’t have enough holdings of the stock in your Demat account.

4) If there was a Corporate Action for the shares you hold.

GTT orders will be cancelled before the ex date of corporate actions like - Bonus, splits, and special dividends and an email will be sent to you immediately informing you of the same. You will have to create a new GTT post the corporate action.

5) If the GTT order was triggered in case a stock opens gap up or gap down, having breached your trigger price.

The GTT will be triggered even in case a stock opens gap up or gaps down, having breached your trigger price. For instance, if the stock closes at 100 on Monday and you have placed a sell trigger for 95 with a limit price of 93. On Tuesday, if the stock opens gap down at 90, then the order will be triggered and placed at the limit price of 93. If the order is not executed by the end of the day, it will get cancelled by the exchange like normal orders.

6) If you have disabled the segment using the Kill Switch.

Once the GTT is triggered, if the segment is disabled, your orders are rejected. To know more about Kill Switch, click here .

Note:

  1. If you have placed a Buy or Sell GTT order and the category or the group of the stock changes while the order is still pending, the GTT Buy/Sell order will be cancelled for such stocks.
  2. A GTT is valid for a maximum of 1 year for equity from when it is placed. It will be cancelled at the end of 1 year and will need to be re-created if necessary.
  3. A maximum of 50 active GTTs is allowed at a time for one account.
  4. An email is sent to you every time a GTT is triggered and an order is placed on the exchange. Also, make sure to check the terms and conditions before placing a GTT.
  5. GTT is completely free and there are no additional charges for using it.