The purpose of the pre-market session is to discover the opening price. So the real opening price for the day will be at 9:15 for NSE equities and derivatives.
Hi Zerodha,
If I buy an Equity share with CNC BUY order and then do CNC SELL on the same day ..Will there be any demat charge ?
Please tell me if there is charge or risk involved in this type of trade.
The reason is , normally I like to do CNC BUY to get delivery . However if the market is good and if I find my target achieved on the same day then I wish to do CNC SELL on the same day to book profit. This will give back my fund early so that I can use the fund for next trade.
However ,I'm worried if there is any risk involved here.
For the NIFTY 50 stocks which qualify for the pre-open session you can know the open price at exactly 9.07 AM. You can place buy/sell orders for the NIFTY 50 stocks(cash not F&O) during the pre-open session which starts at 9 AM. You can also modify or cancel any orders before 9.07 AM or after 9.15 AM, but not between 9.07 & 9.15 AM.
For eg;The Open price of ITC on 8-6-2012 was 236.75. Now during the pre-open session, say you had placed a buy order @ 230, a sell order @ 236.75 & another buy order @ 240(lets imagine mistakenly), then both your sell order @ 236.75 & buy order @ 240 will get executed at 9.07 AM. The buy order @ 240 will get executed @ 236.75, the open price.
Funny thing during the pre-open session especially if you are watching CNBC is, you get to see all sort of wild & weird prices(wide off the mark related to the previous day's closing price) quoted on the screen.