How to place a limit order in Fyers Web?
A limit order is an order placed at a particular price. Buy Limit orders are to be placed below the current market price & Sell Limit orders are to be placed above the current market price.
Go to the scrip you wish to place an order in and click on the Blue (Buy) or Red (Sell) button as highlighted below for the order panel to pop up:
Enter the desired quantity, untick the box ‘Buy/Sell at market price’, enter your limit price and click on ‘Buy/Sell’ as displayed in the image below:
For Instance, Mr. X, a client of Fyers, wants to Buy GAIL stocks (LTP ₹150) at say ₹145, i.e., below the current market price, he is required to place a limit order at ₹145. On the contrary, If Mr. X wants to place a Sell order at say ₹155, i.e., above the current market price, he must place a limit order at ₹155.
Note:
If the buy limit price is more than the current market price or the sell limit price is less than the current market price, the order will be executed at the current market price.
If you want to Buy stocks above the current market price or Sell stocks below the current market price, you need to place a Trigger order or Stop-loss Market order (refer to this article).
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