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Pre-open session of NSE & BSE-How it actually works?

July 16, 2012by Basavaraj Tonagatti

You may have watched on business news channels a pre-open session for NSE and BSE from 9.00 AM to 9.15 AM during market days. But you actually know how your placed orders are executed during this session? It is very interesting and must know factor for all who are interested to invest in stocks.

Before we proceed let us look for the types of orders you can place in market. Their are two types of order placing methods. 1) Market orders-These are the orders where you have not specified any price while buying or selling. Hence such orders execute as per the availing market rates. 2) Limit orders-These are the orders where you have specified the price and quantity for buying or selling. These get executed once find the matching orders.

Pre-open session as I told above starts from morning 9.00 AM to 9.15 AM during the market days. This 15 minutes consists of mainly 3 slots.

1) 9.00 AM to 9.08 AM-Order collection period-During this period you can place the orders, modify or cancel them.

2) 9.08 AM to 9.12 AM-Order matching period and trade confirmation period-During this period placed orders are confirmed based on the price identification method called “Equilibrium price determination” or “Call auction”. Will discuss about these methods below. During this period you are unable to modify or cancel the placed orders.

3) 9.12 AM to 9.15 AM-It is called buffer period and which facilitates transition from pre-open to normal market session.

How Equilibrium Price determination or Call-auction session actually works?

Let us say with example of XYZ stock and previous days closing price of the stock is Rs.100. Now during the market pre-open session types of price and quantity reflect may be as below.

1) Scenario I-We found only one share price with highest trading quantity.

NSE-1

In above case share price with 105 have highest trading quantity with 27,500. Hence it will get executed as equilibrium price or call-auction price.

2) Scenario-II-We found two matching maximum tradable quantity for different share prices.

NSE-2

In above case we found two matching maximum tradable quantity for share price of 105 and 99. In that case minimum unmatched orders quantity is for 105 (8800) than 99 (9000). Hence in this scenario share price 105 is considered as equilibrium price or co-auction price.

3) Scenario-III-We found two matching maximum tradable quantity and same unmatched orders for them too.

NSE-3

From above table we found that for the share price of 105 and 99 we have matching maximum tradable quantity and same unmatched orders. In such scenario previous days close is come into picture. Here I told earlier that previous days close for XYZ is 100 which is nearer to 99 than the 105. Hence in above case 99 is considered as equilibrium price or call auction price.

4) Scenario IV-We found two matching maximum tradable orders with same unmatched orders and share price are equally distanced from previous closing price of share XYZ.

NSE-4

In above case we found that share price 101 and 99 have same maximum tradable quantity and same unmatched orders. Also share prices 101 and 99 are equally distanced from previous days close. In such case previous days close share price 100 is considered as equilibrium price or call-auction price.

Points to remember regarding Pre-open session.

1) After finding the equilibrium price or call-auction price all market orders are executed at the equilibrium price and all no executed limit orders are carry forwarded to open market as it is.

2) Price band of 20% shall be applicable on the securities during pre-open session.

Any comments or suggestions?????

Category: Investment PlanningTag: Call-auction session, Equilibrium Price determination, Pre-open session, Pre-open session NSE & BSE

About Basavaraj Tonagatti

Basavaraj Tonagatti is the man behind this blog. He is SEBI Registered Investment Adviser who is practicing Fee-Only Financial Planning Process and also an Independent Certified Financial Planner (CFP), engaged in blogging since 7 years. BasuNivesh blog is ranked as one among India's Top 10 Personal Finance Blog. He is not associated with any Financial product/service provider. The purpose of this blog is to "Spread personal finance awareness and make them to take informed financial decisions." Please note that the views given in this Blog/Comments Section/Forum are clarifications meant for reference and guidance of the readers to explore further on the topics/queries raised and take informed decisions. These should not be construed as investment advice or legal opinion."

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Reader Interactions

Comments

  1. Mahesh Vijay vedak

    January 23, 2021 at 11:15 PM

    Hi sir hw r u…my question is can I buy share at 9am for intra day? and is there any advantage of gap up opening after buying share at 9am for intra day ?? Or I will able to buy at 9:15 only ?..plz leave comment

    Reply
    • Basavaraj Tonagatti

      January 24, 2021 at 12:11 PM

      Dear Mahesh,
      You can place the order during Pre-Open but confirmed at 9.15.

      Reply
  2. Phani

    December 11, 2020 at 7:49 AM

    Sir,which host site are u using,to host your website

    Reply
    • Basavaraj Tonagatti

      December 11, 2020 at 8:23 AM

      Dear Phani,
      May I know why?

      Reply
  3. Venkat Iyer

    October 17, 2020 at 7:17 PM

    Hello Sir
    What is the difference between “Buy and Sell” and “Demand and Supply”. I tend to think Buy = Demand and sell = Supply. How there are different. This may be a very basic question. Kindly explain
    Regards

    Reply
    • Basavaraj Tonagatti

      October 17, 2020 at 9:14 PM

      Dear Venkat,
      Buyer demanding and selling is the supplier.

      Reply
  4. Keerthi

    August 12, 2020 at 1:32 PM

    Hello Sir,
    Very well explained!! Thank you for that.
    Will you please don’t mind to answer my question.

    How to make sure that order is executed first in the day?
    Like by placing After Market Order or Pre-Market Order?
    Which is given higher priority?

    Thank you in advance!

    Reply
    • Basavaraj Tonagatti

      August 13, 2020 at 4:47 PM

      Dear Keerthi,
      It is a supply and demand based. Hard to say.

      Reply
    • Prakashrao

      August 16, 2020 at 8:44 PM

      Sir, my question is: for ex: on 14-08-2020 Pre open market price declared as Nifty50 11.353.30 52.85 (0.47%) Advances:44 Declines: 4 Unchanged:2
      Here Nifty50 open price is 11353.30 and the difference price from Yesterday’s Close Price is 52.85 here they mentioned in % as 0.47%,
      i want to know this percentage calculation method/ pattern. If any knows about this please mail me hmsgdg@gmail.com or on whatsapp 9481056949
      Thanking you
      Prakashrao
      9481056949 karnataka

      Reply
      • Basavaraj Tonagatti

        August 17, 2020 at 8:19 AM

        Dear Prakashrao,
        Better you contact NSE.

        Reply
  5. Raghavendra murti

    August 5, 2020 at 8:15 AM

    Good morning sir, during 9 to 9.08 am only we can place orders in stock market during pee market session. After 4 min trade confirmation happens. Then why there is increase number of trade during first 8 min.

    Reply
    • Basavaraj Tonagatti

      August 5, 2020 at 8:53 AM

      Dear Raghavendra,
      If your question is post-Pre-Open, then it is value of buyers or sellers. Hard to say WHY.

      Reply
    • vijay

      August 5, 2020 at 7:38 PM

      At what basis order will executed.. i asking in terms of priority lets say 100 is uc and 10-15 order have been placed on previous day @market than
      which order executed first?

      Reply
      • Basavaraj Tonagatti

        August 6, 2020 at 12:41 PM

        Dear Vijay,
        It is always based on demand and supply. If you refer above post, you will get clarity.

        Reply
  6. Smruti

    June 30, 2020 at 8:33 PM

    Sir,
    Nice article.

    Could you please explain below point.

    2) Price band of 20% shall be applicable on the securities during pre-open session.

    Another Query: After Market Order with Market Price (not AMO with LIMIT), How it is calculated in pre order session.
    Which has highest priority?

    Reply
    • Basavaraj Tonagatti

      July 1, 2020 at 8:19 AM

      Dear Smruti,
      It means the bid and offer price must not be more/less than 20% of the previous day’s closing price. “Which has highest priority?”-The price discovery will continue as usual irrespective of the price you set the order.

      Reply
  7. Vinod

    June 23, 2020 at 7:28 PM

    Thanks for explaining things beautifully, it cleared lot of doubts. Here I have one more

    Does FIFO applies on pre-market session and later on AMO orders or vice versa?

    Reply
    • Basavaraj Tonagatti

      June 24, 2020 at 6:34 AM

      Dear Vinod,
      Yes. FIFO applies for pre-market session.

      Reply
  8. Adarsh

    June 22, 2020 at 12:08 AM

    Sir,
    Your post is very informative.I have 3 query.
    1.some shares allotments takes place place even in upper circuit.What is the logic for allotment is it FIFO basis or some other.
    2 Is there any difference between ami orders and pre orders in allotment.
    3 Is there any difference between limit orders and market orders while allotment in uc.

    Reply
    • Basavaraj Tonagatti

      June 22, 2020 at 10:29 AM

      Dear Adarsh,
      1) FIFO basis.
      2) AMI means?
      3) Yes.

      Reply
  9. Prince

    June 17, 2020 at 8:59 PM

    Wonderful explanation ! Thanks a lot.

    I have a query i actually placed a market order in between 9 to 9.05am and then cancelled and placed a limit order for it before 9.08am, but, even after that, my order got executed at the equilibrium price.
    Is this also a scenario and can happen or should i contact my broker if its an issue ?

    Reply
    • Basavaraj Tonagatti

      June 18, 2020 at 9:33 AM

      Dear Prince,
      Check the exact punching times and then you can complain.

      Reply
  10. Reena

    June 3, 2020 at 10:10 AM

    That’s the beautiful explanation. Many thans for that. Here I have one more query.

    Does the pre market ordered prevails over the pending orders of last day. I mean what we bid after market

    Reply
    • Basavaraj Tonagatti

      June 3, 2020 at 11:06 AM

      Dear Reena,
      NO.

      Reply
  11. Srikanth

    May 2, 2020 at 12:34 PM

    Hi, I have understood very clearly on the four scenarios. I have two questions.

    1. Apart from these four any other scenarios are applicable for the calculation of Equilibrium price?

    2. Is share price only only increase when buy happens or any other source that affect for raise?

    Thank you for the Help.

    Reply
    • Basavaraj Tonagatti

      May 2, 2020 at 12:52 PM

      Dear Srikanth,
      1) NO.
      2) It depends on DEMAND and SUPPLY.

      Reply
      • Srikanth

        May 2, 2020 at 2:46 PM

        Hi

        Thank you so much for quick response. So Demand means Buy and Supply means Sell?. If not , can you please explain?

        Reply
        • Basavaraj Tonagatti

          May 2, 2020 at 5:10 PM

          Dear Srikanth,
          Yes.

          Reply
  12. Sushant K.

    December 26, 2019 at 9:09 AM

    Hi, firstly I sincerely thank the author for this post and easy explanation, I really appreciate your efforts, I will come back again and again to check for updates on this blog. But I have a small request will you please share the source of this information?

    Reply
    • Basavaraj Tonagatti

      December 27, 2019 at 9:16 AM

      Dear Sushant,
      It was available on NSE (I am not sure about now).

      Reply
    • Tarun Verma

      March 15, 2020 at 6:30 PM

      Sir, I didn’t understand the concept as the images you quoted are not visible. Please, if can check it once more.

      Thanks in advance.

      Reply
      • Basavaraj Tonagatti

        March 16, 2020 at 2:27 PM

        Dear Tarun,
        I think it is resolved now. Please have a look and let me know if you still facing this issue.

        Reply
  13. Anurag Garg

    November 12, 2019 at 9:10 AM

    Beautiful explanation.. Cleared my long pending query!! I think that I will be visiting more often!!
    Keep enlightening the people.. A lot of us need it. 🙂

    Reply
  14. S P GOPINAATH

    August 26, 2019 at 8:55 AM

    Can we place the order for option in premarket session?

    Reply
    • Basavaraj Tonagatti

      August 26, 2019 at 9:04 AM

      Dear Gopinath,
      NO.

      Reply
  15. Subhash

    July 18, 2019 at 9:38 PM

    You have explained it as simple as possible. Your effort is greatly appreciated. Thank you very much Sir.

    Reply
    • Basavaraj Tonagatti

      July 19, 2019 at 6:53 AM

      Dear Subhash,
      Pleasure 🙂

      Reply
  16. Akshay

    July 12, 2019 at 11:26 PM

    https://www.nseindia.com/live_market/dynaContent/live_analysis/pre_open/preOpenOrderBook.jsp?param=MANPASANDEQN&symbol=MANPASAND

    In the above scenario of pre-markets order session dated 12July 2019 for MANAPASAND BEVERAGES the buy price of Rs. 35.50 @ 1750 quantity will be executed at what price?

    Reply
    • Basavaraj Tonagatti

      July 13, 2019 at 9:03 AM

      Dear Akshay,
      I can’t track individual price.

      Reply
      • akshay

        July 13, 2019 at 1:47 PM

        In general what happens to BUY orders that are placed above equilibrium price

        Reply
        • Basavaraj Tonagatti

          July 14, 2019 at 10:05 PM

          Dear Akshay,
          It is already explained above.

          Reply
  17. Utkarsh mittal

    April 18, 2019 at 3:03 PM

    Sir from where we can see this table on our broker,s platform ???

    Reply
    • Basavaraj Tonagatti

      April 19, 2019 at 1:54 PM

      Dear Utkarsh,
      These tables may not be possible to see. However, I explained to you how it works.

      Reply
  18. Ratan

    March 8, 2019 at 6:06 AM

    1. In scenario 2 quantity of demand and supply at 99 is the same as in scenario 1. This could be an error which has been corrected in scenario 2. I understand during pre-open only market orders can be placed. Then how do you match demand and supply at different price levels?

    Reply
    • Basavaraj Tonagatti

      March 8, 2019 at 9:00 AM

      Dear Ratan,
      Please read once again the scenarios properly.

      Reply
  19. Nilesh

    February 8, 2019 at 11:14 PM

    I don’t understand how you get 36500 as demand and 12500 as supply in last row 4th and 5th column of 1st example.

    Reply
    • Basavaraj Tonagatti

      February 9, 2019 at 6:23 AM

      Dear Nilesh,
      They are just examples to show.

      Reply
  20. Learning market

    February 6, 2019 at 12:27 AM

    Dear sir if i place a limit order of a stock at price 500 but seller puts limit order at 480. Then at what price trade would execute?
    500 or 480?

    Reply
    • Basavaraj Tonagatti

      February 6, 2019 at 6:27 AM

      Dear Learning,
      If there are matching seller order for Rs.480, then it will get executed but not at Rs.500.

      Reply
  21. Gowrishankar

    January 30, 2019 at 7:24 AM

    Can you explain more on order book and demand/supply

    Reply
    • Basavaraj Tonagatti

      January 30, 2019 at 8:38 AM

      Dear Gowrishankar,
      What is your doubt? Because ORDER BOOK and Demand/Supply is the simple concept.

      Reply
  22. vansh

    November 29, 2018 at 5:11 PM

    sir any chart or broker who provides pre market price and candle too?

    Reply
    • Basavaraj Tonagatti

      November 29, 2018 at 6:22 PM

      Dear Vansh,
      Sorry, I don’t know.

      Reply
  23. Jignesh Patel

    September 18, 2018 at 11:57 PM

    Dear Basavaj,

    Could you explain the difference in buy and sell quantity versus demand and supply quantity?? Also, What is the importance of buy and sell quantity in determining equalibirium price? Also, What is a “At the open (ATO) orders and how they help in driving the market in active trading session??

    Thanking you in anticipation.

    Reply
  24. Vishal

    August 1, 2018 at 11:32 PM

    Sir , Please suggest on the below scenario :

    I wanted to buy 500 stocks of cummins ind on 1st aug.
    I had placed buy at market order at 9.05 am and the stocks were not bought.
    Instead stocks were carry forwarded to open market with limit of 680 ( which was the decided equilibrium price at pre open market ). Do you think this happened due to low volume ?

    Thanking in advance for your help.

    Reply
    • Basavaraj Tonagatti

      August 2, 2018 at 9:20 AM

      Dear Vishal,
      It may be.

      Reply
  25. Anil

    April 28, 2018 at 3:44 PM

    Thanks for explanation, please let me clear how can we can anticipate the price in pre-market session, or its simple luck by chance if order get executed. if there is any good or bad news of stock so how one can decide as to which price stock will open.

    Reply
    • Basavaraj Tonagatti

      April 29, 2018 at 4:32 PM

      Dear Anil,
      Yes, you can anticipate but alloting the stocks during pre-market is completely on demand and supply.

      Reply
  26. Shreekant

    April 22, 2018 at 11:31 PM

    What is unmatched order here?

    Reply
    • Basavaraj Tonagatti

      April 23, 2018 at 9:17 AM

      Shreekant-Orders which are not matched.

      Reply
      • shreekant

        April 24, 2018 at 6:07 PM

        Is there any way to get the total number of unmatched orders during that period ?

        Reply
        • Basavaraj Tonagatti

          April 25, 2018 at 9:28 AM

          Shreekant-It is hard to find through broker. You can knock NSE or BSE to fetch that data.

          Reply
  27. Omkar

    April 21, 2018 at 10:56 PM

    Is there a pre and post market session for Futures too ??

    Reply
    • Basavaraj Tonagatti

      April 22, 2018 at 11:00 AM

      Omkar-NO.

      Reply
  28. Arjun

    April 8, 2018 at 7:34 PM

    Sir can any individual or retail investor as small as 100 shares can be placed order in pre open market ?

    Reply
    • Basavaraj Tonagatti

      April 9, 2018 at 9:20 AM

      Arjun-YES.

      Reply
      • C V REDDY

        April 18, 2018 at 7:29 PM

        Dear sir
        By the time 3.30PM to GNFC closed at rs414/-. But 3.31PM it changed to 401.95. Why that sudden change. Normally to get Rs3.00 change thousand of share to be traded.

        Reply
        • Basavaraj Tonagatti

          April 18, 2018 at 7:37 PM

          Reddy-Check with your broker.

          Reply
        • vivek anand

          June 27, 2018 at 7:38 PM

          this happened because in post market order i.e from 3.30pm to 4pm there were buyer and seller who traded at the price of 401.95

          Reply
  29. Vishwesh Dhamdhere

    April 5, 2018 at 9:23 PM

    1. Is demand & supply is based on buy & sell market Order?
    2. What is the difference between buy, sell order & cumulative buy sell order in pre-market?
    3. Why bids is greater than offer in pre market?

    Reply
    • Basavaraj Tonagatti

      April 5, 2018 at 9:27 PM

      Vishwesh-1) Not market orders but during Pre-Open Session.
      2) I am not sure of cumulative. May I know the details of the same.
      3) Because there are someone to buy and sellers look for higher bidders.

      Reply
      • Vishwesh Dhamdhere

        April 5, 2018 at 10:00 PM

        Buy, Sell Order & Demand, Supply Order what are the difference?

        Reply
        • Basavaraj Tonagatti

          April 6, 2018 at 9:47 AM

          Vishwesh-Demand and Supply orders are not there at all. It is only buy and sell orders which fluctuate based on demand and supply.

          Reply
  30. Vishwesh Dhamdhere

    March 27, 2018 at 6:35 PM

    Why volume & limit quantity is high after 9.08 in pre-market

    Reply
    • Basavaraj Tonagatti

      March 28, 2018 at 8:42 AM

      Vishwesh – It’s not high but shows all pending orders.

      Reply
      • Vishwesh Dhamdhere

        March 28, 2018 at 6:21 PM

        Ok ok got it. Sir I’m a intraday trader I always follow pre market strategy. I have little more doubts can give u share Ur no.
        My number :- 8850609088

        Reply
        • Basavaraj Tonagatti

          March 29, 2018 at 7:52 AM

          Vishwesh- But sadly I’m not an expert in intra day trading.

          Reply
  31. Ankit Jaiswal

    March 14, 2018 at 12:57 PM

    If Market Orders quantity is greater than unmatched tradable qty …

    How remaining market orders will get execute which are placed in pre-open session.

    Reply
    • Basavaraj Tonagatti

      March 14, 2018 at 6:19 PM

      Ankit-As per me, they will be turned regular orders after the pre-open session closure.

      Reply
  32. Dipu

    March 14, 2018 at 12:40 AM

    Nicely explained thanks

    Reply
  33. Saurav Gulati

    March 5, 2018 at 11:08 AM

    Can you please tell me about minimum amount required to buy nifty future in intraday trade.

    Reply
    • Basavaraj Tonagatti

      March 5, 2018 at 11:41 AM

      Saurav-Check with your broker.

      Reply
  34. Sripathi

    February 18, 2018 at 12:59 PM

    Dear Sir,

    I would like to view the past Pre-Open Market data by date wise. Any possibilities to get this.

    Please help me in this regard.

    Reply
    • Basavaraj Tonagatti

      February 18, 2018 at 3:56 PM

      Sripathi-Contact the NSE or BSE.

      Reply
      • Sripathi

        February 19, 2018 at 8:34 AM

        Thank You Sir…..

        Reply
  35. Sumit singh

    February 14, 2018 at 6:17 AM

    HELLO BASU SIR !!!
    Can you pls help me with this !
    At what price i should bid in pre open market.?
    Can i bid at any price in the upper &
    Lower circuit range?
    And why do previous close price & next day’s opening price is different?
    Does it is only due to the equilibrium price calculation or there are some other reasons?

    Reply
    • Basavaraj Tonagatti

      February 14, 2018 at 6:23 AM

      Sumit-At what price I BID-It is purely your call. Price difference is due to equilibrium price calculation.

      Reply
  36. Dwijesh

    February 11, 2018 at 10:46 PM

    Hello sir I would like to know where can I get this premarket data does anyone provides this because I need the quantity of shares traded in the premarket session which is responsible for a gap up or gap down.By knowing that one can predict if it’s a real or just an anxiety move since some stocks might be oversold or overbought because of certain news but the performance of stock might not reflect the move and there may be a chance of gap filling. It would be really helpful if you could tell me where I can get this since I trade on zerodha they don’t provide this. Even Amibroker with its feeder doesn’t provide that or if there is any setting which I could change on amibroker such that I get the volume on the premarket data please do tell me thank you.

    Reply
    • Basavaraj Tonagatti

      February 12, 2018 at 6:27 AM

      Dwijesh-You can knock the NSE or BSE for the same.

      Reply
  37. Raj

    February 11, 2018 at 12:54 AM

    Hello,

    As explained by you in above cases for example case 1 where 105 is the equilibrium price of the share,then when the market opens at 9.15 is 105 going to be the opening price?In short is the pre-opening equilibrium point also the opening point at 9.15?
    Also, is after hours trading don in india?

    Reply
    • Basavaraj Tonagatti

      February 11, 2018 at 7:10 AM

      Raj-This is what I already explained in above post.

      Reply
  38. John

    December 22, 2017 at 9:14 AM

    You only explained the defination of pre-open session here, I beleive. Could you please tell us how should this be taken for the entire day intra-day. I mean if the pre-open session was mostly selling, will only selling happen throughout the day for intraday or viceversa?? What’s the importance of pre-open session for intraday?? Please share your valuable honest opinion per your intraday/stock market experience! thanks

    Reply
    • Basavaraj Tonagatti

      December 22, 2017 at 9:28 AM

      John-Pre-Open session will never ever be the indicator of market day. It may or may not be. Hence, do investment or trading as per your plan but not relying too much on pre-open session.

      Reply
  39. Rajasekhar

    November 6, 2017 at 1:02 PM

    What is the difference between order book and demand & supply qty.

    Reply
    • Basavaraj Tonagatti

      November 6, 2017 at 7:04 PM

      Rajasekhar-Order book is a book where the orders are entered. Demand and Supply is based on the type of orders booked.

      Reply
    • amresh kumar awasthi

      December 22, 2017 at 9:09 AM

      thank you sir

      Reply
    • Prakash

      January 12, 2018 at 11:29 AM

      Is there a way to know the actual demand and supply at a given point of time?

      Reply
      • Basavaraj Tonagatti

        January 12, 2018 at 12:03 PM

        Prakash-During Pre-Open Session?

        Reply
        • Prakash

          January 12, 2018 at 12:20 PM

          Any time – including pre-open.

          Reply
          • Basavaraj Tonagatti

            January 12, 2018 at 1:34 PM

            Prakash-It can seen live. Check with your broker application.

            Reply
  40. Feelthemarket

    October 30, 2017 at 10:51 PM

    A very nice blog which clear lots of doubts. Few questions to ask you if you please clear the doubt

    1) Suppose a HNI trader with 50 crores capital wants to trade a script which is has closed at 200 previous day.Obviously his volumes will be more. So what will be his ideal strategy to fill the orders quickly AMO or Pre opening session?

    Reply
    • Basavaraj Tonagatti

      October 30, 2017 at 11:41 PM

      Feelthemarket-Hard to say as it depends on that day’s demand and supply.

      Reply
  41. Davidroy

    September 24, 2017 at 3:14 PM

    Is there any data available where ALL ( not only my account) pending orders for a specific stock are given ?

    Reply
    • Basavaraj Tonagatti

      September 25, 2017 at 8:26 AM

      Davidroy-Check with your broker.

      Reply
  42. Raghu

    April 22, 2017 at 3:52 PM

    Great article!

    Few questions.

    1. Let’s say I place an order in premarket, when do I find out if it gets matched?
    2. If it does get matched, will I know the price?
    3. What other info do I get? (for example, is it possible to glance at the book before market open?)
    4. And most importantly, if it doesn’t get matched, does it roll over to market open? Do any orders rollover to market open?

    Thanks!
    – Raghu

    Reply
    • Basavaraj Tonagatti

      April 22, 2017 at 8:18 PM

      Raghu-If it matched, then your order get executed. You can’t see that back end process.

      Reply
    • Gangadhar

      April 23, 2017 at 11:35 AM

      Hi Basu,

      I have few doubt about circuit limit

      Recently i observed that Indiabulls share price raised by 50% in a day, Adani enterprises raised 27%, Divi’s lab dropped by 24%, how can this happen as they fall into the 20% price band.

      thanks
      Gani

      Reply
      • Basavaraj Tonagatti

        April 23, 2017 at 9:49 PM

        Gangadhar-Do research on these stocks which either goes up or down drastically, you noticed that circuit limit acted. Just search some news items related to these.

        Reply
      • PaagalTrader

        May 11, 2017 at 10:10 PM

        Circuit limits are not applicable on stocks in Futures & Options.

        Reply
        • Basavaraj Tonagatti

          May 12, 2017 at 8:57 AM

          PaagalTrader-Not applicable to stocks??

          Reply
          • Yatish

            June 11, 2017 at 6:39 PM

            Correct, circuit filters are not applicable to stocks which have derivatives e.g. futures and options. Remember SATYAM ? 80% fall in a matter of minutes, so be careful. Happy trading.

            Reply
      • vivek+anand

        June 27, 2018 at 7:49 PM

        for F&O stocks circuit limit is different

        Reply
  43. Deep\'s

    November 22, 2016 at 4:59 PM

    what does 3 min of buffer do?
    Does it perform specific task other then facilitates transition from pre-open to normal market session?
    what exactly happens in this 3 min of buffer period in pre open?

    Reply
    • Basavaraj Tonagatti

      November 22, 2016 at 5:49 PM

      Deep-It is price adjustment at internally and getting ready for market opening.

      Reply
      • Deep\'s

        November 22, 2016 at 5:52 PM

        what does price adjustment means?
        i mean in what manner the adjustment is done?

        Reply
        • Basavaraj Tonagatti

          November 22, 2016 at 7:57 PM

          Deep-It is at server end.

          Reply
  44. Gangadhar

    October 11, 2016 at 11:34 PM

    Basu i have new doubt,

    per my understanding whenever a script breaches the circuit limit within bse prescribed hours trading will be halt for 15 min(2pm), 30 min(1pm) and 45 min(11am). after each halt the equilibrium price determination process repeats

    pls ref bse website and circuit limit field, pl confirm my understanding is correct or not

    Reply
    • Basavaraj Tonagatti

      October 12, 2016 at 1:39 PM

      Gangadhar-I am not sure about circuit breaker rules during market timing. But what I am explaining here is about Pre-Open.

      Reply
  45. Gangadhar

    October 11, 2016 at 11:26 PM

    Basu,

    1.GTDC stands for good till date, this option is available for some scripts in BSE and we can put order validity upto 1 month for both sell and buy, but am not sure whether unexecuted order will be taken for pre-open session next morning or not, but it will be taken for regular market b/w 9.15-3.30pm daily upto 1month

    2.if i have demat a/c with 1 broker can i trade with different broker and transfer shares to my 1st broker demat a/c, because some firms provide less brokerage but not sure about long term guarantee

    Reply
    • Basavaraj Tonagatti

      October 12, 2016 at 1:41 PM

      Gangadhar-1) I am not aware of that.
      2) Yes, if the ownership is same then within different demat, you can transfer stocks.

      Reply
  46. Gangadhar

    October 11, 2016 at 4:51 AM

    Hi Basavaraju,

    1.May i know when will be the circuit limit for each script fixed
    2.As the circuit limit for all scripta is 20% during pre open sesson, if i place the order at +20% and if the circuit limit for that script is fixed to 5% how it will be transferred to regular market
    3.If i place the GTDC order after market hours will unexecuted order be considered for pre open session
    4.If i place the order before 9.00am will that be taken for pre open session

    thank you very much for your time,

    Best regards
    Gangadhar
    9686570238

    Reply
    • Basavaraj Tonagatti

      October 11, 2016 at 11:49 AM

      Gangadhar-1) It is fixed by NSE based on the script considering many aspects like liquidity and volatility.
      2) It is script specific.
      3) GTDC stands for?
      4) You are not allowed to place before 9 AM.

      Reply
  47. Arjun

    October 8, 2016 at 10:16 AM

    Hii, I’ve got a question sir,
    1. Their r two types of orders, after market order n pre open session order; whats the advantage of them over each other?

    2. If i want my order to get executed at highest odds, what precautions shall i take? (ex. Place order at most probable price point or place order as early as possible, as soon as pre market session starts?)

    Reply
    • Basavaraj Tonagatti

      October 8, 2016 at 10:38 AM

      Arjun-1) Is it during Pre-Open session?
      2) Probability is not known to anyone. Then how can you judge?

      Reply
  48. Hansmukh Jain

    October 2, 2016 at 6:52 PM

    1. If two people have placed buying order at same price, Which order will get priority to be matched if supply is less than demand?

    2. Which order get priority to be matched, limit or market order if at limit price order, supply is less than demand?

    3. Which order have high probability of execution?

    Thank you for sharing excellent article.

    Reply
    • Basavaraj Tonagatti

      October 2, 2016 at 7:52 PM

      Hansmukh-1) Both if punched to be exactly at same time then for market it is considered as ONE order but not two orders.
      2) There is no such differentiation, if market order and limit order at same price then they treated equally but based on timing the priority will be given.

      Reply
  49. Ranjit Ekka

    August 29, 2016 at 12:30 AM

    sir one small doubt. often my stop loss order is executed much above the feeded price as input during intraday trade. for example , for SBI as scrip I have ordered Stop Loss at Rs. 235.00 but the Stop Loss order gets activated at price say Rs. 238.00, many a times it has happen to me. Please help.

    Reply
    • Basavaraj Tonagatti

      August 29, 2016 at 10:12 AM

      Ranjit-Check with your broker.

      Reply
    • Naeem

      October 1, 2016 at 9:45 PM

      Could you please put opening sessions of BSE and NSE differently, also elucidate the closing sessions. Thank you so Much!!!

      Reply
      • Basavaraj Tonagatti

        October 2, 2016 at 11:34 AM

        Naeem-Pre-Open session works same way for both NSE and BSE.

        Reply
  50. Sahil

    August 25, 2016 at 2:52 AM

    Sir,
    After the selection of “Equilibrium Price” which orders are given the priority
    (i) The Market Orders OR
    (ii)The Limit Orders – Here the Limit Orders I am talking about are the one which ultimately decided the Equilibrium Price i.e the ones with maximum tradable quantity. Here as the limit price of these orders equals the new market price
    which type of orders are completed first?…. (i) or (ii).

    Reply
    • Basavaraj Tonagatti

      August 25, 2016 at 9:55 AM

      Sahil-Once the equilibrium price identified, then there is no difference between market order or limit order. The orders get executed based on FIFO format.

      Reply
  51. abhishek

    August 18, 2016 at 11:57 PM

    Hey… Whether can we short-sale any stock in pre open market? Pls reply me

    Reply
    • Basavaraj Tonagatti

      August 19, 2016 at 6:47 AM

      Abhishek-Yes, you can.

      Reply
      • abhishek

        August 19, 2016 at 8:32 AM

        Hi

        I asked same question on fb page you replied NO! I am confused!

        Reply
        • Basavaraj Tonagatti

          August 19, 2016 at 12:06 PM

          Abhishek-I updated the same reply in FB. Check.

          Reply
          • abhishek

            August 19, 2016 at 12:43 PM

            Hi,

            Today I tried to Short sale State bank of Mysore, but it doesn’t happened! Why?

            Reply
            • Basavaraj Tonagatti

              August 19, 2016 at 5:02 PM

              Abhishek-I am not sure of why it not happened. Also, it depends again on equilibrium price.

              Reply
              • abhishek

                August 19, 2016 at 5:07 PM

                But, the thing is it has rejected the transaction! so no question of equilibrium price!

                Anyways thanks for the reply man!

                Reply
                • Basavaraj Tonagatti

                  August 19, 2016 at 5:27 PM

                  Abhishek-But as per rules, it must. Check with broker !!!

                  Reply
  52. Debayan Sen

    August 18, 2016 at 3:19 PM

    Sir, i have a question. If i place an order in pre-market session then can i get the shares at market price or do i have to use limits?

    Reply
    • Basavaraj Tonagatti

      August 18, 2016 at 6:42 PM

      Debayan-If they executed as per the market price, then it will be at market rate otherwise at limit price.

      Reply
  53. rahul

    August 10, 2016 at 4:48 PM

    is it good to invest in penny stocks using delivery mode through zerodha because zerdoha not charge on delivery as compare to other brokers?

    Reply
    • Basavaraj Tonagatti

      August 10, 2016 at 5:29 PM

      Rahul-Zerodha may be offering NO CHARGE on delivery. But are they guaranteeing you on profit or safety of your money? Act as per your risk.

      Reply
      • aksuvarna

        November 4, 2017 at 2:19 PM

        Hi, i think no broker gives guarantee on profit.. and regarding safety of Money… our money in our account or in form of stocks.. where does it go? Pl clarify

        Reply
        • Basavaraj Tonagatti

          November 6, 2017 at 8:44 AM

          Aksuvarna-Where does it goes means?

          Reply
  54. rajesh

    August 1, 2016 at 9:13 AM

    can i buy shares on 9 Am and sell at 9:30 Am ???
    .
    .
    should i get share on yesterday closing price ??.
    .
    .
    thank you

    Reply
    • Basavaraj Tonagatti

      August 1, 2016 at 9:57 AM

      Rajesh-Yes, you can place the order. Once it matches the opening price, then it get executed based the priority. Then you can sell the same at 9.30. No, you will not get the share at yesterday’s closing price.

      Reply
      • rajesh

        August 1, 2016 at 4:01 PM

        thanks sir. i have one more query regarding to this.

        i will get stock at open price. And suppose it comes down than open price at the end of the day but its more than the previous day closing price. then whose profit is this. is it my profit or company profit. i m asking about intraday shares.
        .
        .
        thank u .
        regards- rajesh

        Reply
        • Basavaraj Tonagatti

          August 1, 2016 at 4:08 PM

          Rajesh-If you bought the stocks (whether it is at market price, open price or the price you bought at), the profit and loss are purely YOUR’s

          Reply
  55. Chandan

    July 28, 2016 at 6:01 PM

    I am little bit confused. I have following quaries
    i) Am i eligible to place an oreder with market price (instead of Limit)?
    ii) If so, once the equilibrium price will be set as per your algorithm, the orders will be executed?
    iii) How the traded quantity calculated whether it is based on the pending orders or previous day’s traded quantity?

    Thanks in advance.

    Reply
    • Basavaraj Tonagatti

      July 28, 2016 at 8:25 PM

      Chandan-1) NO. 2) You don’t know the market price for the day, hence how can it get executed? 3) At what point?

      Reply
  56. Panduranga Kamath

    July 6, 2016 at 4:02 PM

    Sir, Thanks for helping investors. Can I place After Market orders in Futures?

    Reply
    • Basavaraj Tonagatti

      July 6, 2016 at 8:15 PM

      Panduranga-Not allowed.

      Reply
      • Surendar

        July 13, 2016 at 2:57 PM

        Futures and cash segments are allowed in After market orders.

        Only in pre-open sessions cash segment alone is accepted.

        Reply
        • Basavaraj Tonagatti

          July 13, 2016 at 5:18 PM

          Surendar-YES.

          Reply
    • Rajnish

      July 10, 2016 at 9:01 PM

      So what happens if my quote is below or higher than the equilibrium price.

      Reply
      • Basavaraj Tonagatti

        July 10, 2016 at 9:06 PM

        Rajnish-It will not execute.

        Reply
        • Karan

          July 21, 2016 at 3:54 AM

          hi buddy,

          So i want to ask you a question here, this means it is a very rare possibility that my order will be executed. i mean what are the chances here that i quote exactly the equilibrium price.. am i getting it right?

          Reply
          • Basavaraj Tonagatti

            July 21, 2016 at 7:47 AM

            Karan-YES, you may say so.

            Reply
            • Karan

              August 5, 2016 at 10:44 PM

              In that case, why do investors/traders even bid or place orders in a pre market session, i mean, what is the point , its like winning a lottery – right? if i am wrong please correct me and explain me sir.. confused on this.

              Reply
              • Basavaraj Tonagatti

                August 6, 2016 at 10:13 AM

                Karan-Trading is winning the same right?

                Reply
  57. Rohit

    July 6, 2016 at 7:56 AM

    Sir news channels shows nifty movements around 6.30 to 9am, that shows nifty is up or down. How can we see them on any other website or applocations before pre open .how news channel knows all this before 9am.

    Reply
    • Basavaraj Tonagatti

      July 6, 2016 at 9:57 AM

      Rohit-Only GOD knows of how they show the movement. All it matters is TRP to them but not your moeny.

      Reply
      • tanmay

        July 21, 2016 at 9:07 AM

        They check SGX Nifty….God doesn’t tell them…

        Reply
      • a

        December 12, 2016 at 8:49 AM

        Please upgrade yourself b4 acting as a subject matter expert

        Reply
        • Basavaraj Tonagatti

          December 12, 2016 at 10:13 AM

          a-Please let me know which knowledge I have to upgrade 🙂

          Reply
  58. rajsekhar

    July 1, 2016 at 5:51 PM

    Hi sir i have a question from this article.
    In case-4 what would happens to the orders placed at 101 and 99 when previous days closing price 100 is considered as equilibrium price or call-auction price? Will they be going to the open market?

    Reply
    • Basavaraj Tonagatti

      July 2, 2016 at 9:57 AM

      Rajsekhar-Previous day’s close is exactly in same distance from 101 and 99. In such situation previous day’s closing price is the equilibrium price or call-auction price.

      Reply
  59. Naren Das

    June 8, 2016 at 11:24 AM

    Nice article. Let me ask a question. Some sites advocate the application of the Chandelier exit by setting your stop upon entry at a multiple of, generally, 3 times the Average True Range (ATR). The ATR at entry for this trade is sitting at 0.0122. So they have calculated ATR as 3X122 pips=366 pips and have the initial stop at 366 pips lower. Now let me know how to calculate for the Indian stock market? What should be the equivalent of pips in the Indian stock market? I hope you would kindly help me.

    Reply
    • Basavaraj Tonagatti

      June 8, 2016 at 11:28 AM

      Naren-I am not aware of this.

      Reply
      • Prasath

        June 9, 2016 at 11:42 AM

        Does market orders get executed during pre-open session.

        Reply
        • Basavaraj Tonagatti

          June 9, 2016 at 5:33 PM

          Prashanth-Yes, if the market order is the pre-opening price.

          Reply
  60. raja rao

    May 13, 2016 at 9:43 PM

    Very nice article looking forward to know more very many thanks sir

    Reply
  61. Kantibhai

    May 11, 2016 at 10:58 PM

    Excellent explanation Sir,Today i understand concept of Pre-opening .
    Thanks a lot

    Reply
  62. Alagu

    April 22, 2016 at 7:46 PM

    Hi!! Thanks for the information. I am very new to the technical terms in the market. So, my question may be naive. My question is I want to buy a stock xzy. The closing price yesterday was 100. Just imagine the lower and upper circuit for the stock is 20%. I strongly believe the stock will move to 115-120 range after few minutes market opens. Now, i want to buy the stock at better price anywhere between 100-110. If I want to place order during pre market session (i.e between 9-9.08 am), how I can choose the price? any random price between 100 and 110 or the better price (for example 105) will be shown any where in the broker site (in my case ICICIdirect)?

    Thanks

    Reply
    • Basavaraj Tonagatti

      April 22, 2016 at 7:50 PM

      Alagu-Random price.

      Reply
      • Alagu

        April 23, 2016 at 12:22 PM

        Thanks

        Reply
  63. Pankaj

    April 20, 2016 at 12:24 PM

    So, the Equilibrium Price could be higher/lower than the pre-open price(which we get at 9:08 am) of a stock. Please correct me if i am wrong …

    Reply
    • Basavaraj Tonagatti

      April 20, 2016 at 12:39 PM

      Pankaj-YES.

      Reply
  64. Lohit

    April 15, 2016 at 6:48 PM

    Sir thank you for the great article!

    Can I place after market order at market price so that it can get executed at equilibrium price. For example, Infosis results are out and it was excellent, last closing price was around 1162, I anticipate it to increase on Monday. To avoid gap when placing limit price, can I place a AMO at market price and by placing market order will I get best price around the equilibrium price.

    Reply
    • Basavaraj Tonagatti

      April 15, 2016 at 7:10 PM

      Lohit-How you know the market price of the day’s start during pre-open session?

      Reply
  65. jatin bhatia

    April 13, 2016 at 10:39 AM

    Sir,

    Can we place Buy/Sell orders in FNO segment too during the Premarket session?

    Reply
    • Basavaraj Tonagatti

      April 15, 2016 at 11:38 AM

      Jatin-NO.

      Reply
  66. vikas

    March 17, 2016 at 8:56 AM

    Minor typo – Scenario 2 supply Qty for share price is incorrect in figure. Should be 27500 instead of 12500. Great article otherwise. I have 2 questions as well. Do prices move in the same fashion in regular session as well? 2nd – Where can the order book details be found?

    Reply
    • Basavaraj Tonagatti

      March 17, 2016 at 10:44 AM

      Vikas-Thanks for finding error 🙂 1) Yes, the prices move in same way. 2) You will not get that information during trading time.

      Reply
  67. Jji George

    January 5, 2016 at 12:03 PM

    Dear sir,

    Please tell me Pre market orders are possible for all stocks or only index stocks.

    Reply
    • Basavaraj Tonagatti

      January 5, 2016 at 1:34 PM

      George-For all stocks.

      Reply
  68. priyabrata hazra

    January 4, 2016 at 9:30 AM

    In the pre market orders what will be the mode of Product Type–margin, delivery, mif or ptst.

    Reply
    • Basavaraj Tonagatti

      January 4, 2016 at 5:39 PM

      Priyabrata-It may be anything. You can buy it either delivery or margin.

      Reply
  69. Sam

    December 12, 2015 at 11:44 AM

    IS there any way to carry forward my last day selling order to next day in NSE?

    Also what strategy should i adopt to exit from a stock which is going in lower circuit from past 4 days?(Every days some 3000 sell oders is bring the stock to LC)

    I want to place a request in a such a way that it get executed first in NSE as NSE will place first come/first serve basis

    At what time/what method should i adopt so that NSE will take my orders first?

    Reply
    • Basavaraj Tonagatti

      December 12, 2015 at 5:22 PM

      Sam-No, you can’t carry forward your selling order. The order expires after the market closure. It is hard to guide as to what you have to do with the stock which is trading at lower circuit. It is purely your call of buying. Hence, can’t guide the strategy to SELL from my end. It is everyone’s dream that their orders MUST execute at any cost. But it will not happen like that. Because it is market driven by many of like you and me.

      Reply
    • sam

      December 12, 2015 at 8:06 PM

      Also just want to know whether any benefit is there for placing selll limit offline order one day in advance instead of giving in pre open session on the same day?

      Reply
      • Basavaraj Tonagatti

        December 13, 2015 at 8:04 AM

        Sam-NO.

        Reply
        • sam

          December 13, 2015 at 9:06 AM

          Can you please guide me the link wherein I can see pending sell orders/Buy orders for a stock which is in UC/LC?

          Reply
          • Basavaraj Tonagatti

            December 13, 2015 at 10:47 AM

            Sam-Check with your broker.

            Reply
  70. shariq

    December 4, 2015 at 9:41 AM

    Good morning sir, if a stock closes at 55 rs and in pre opening session it is at 56 or 57 (9:06 am) and I want to buy 500 stocks at the same time, so can I purchase it?

    Reply
    • Basavaraj Tonagatti

      December 4, 2015 at 11:25 AM

      Shariq-Please elaborate more about the situation.

      Reply
      • shariq

        December 4, 2015 at 3:08 PM

        Sir like we purchase stocks after stock market gets open is there any way like that to buy stocks in pre open session

        Reply
        • Basavaraj Tonagatti

          December 4, 2015 at 7:12 PM

          Shariq-Yes, and it is based on price mechanism I explained above.

          Reply
          • shariq

            December 4, 2015 at 8:56 PM

            Sir, can you tell me name of some broker’s from where I can do trading in pre open session

            Reply
            • Basavaraj Tonagatti

              December 4, 2015 at 9:05 PM

              Shariq-All brokers provide this facility. Do remember that trading means you have to buy or sell orders. Based on price mechanism your order may get executed. Please read above post about how the orders executed during pre-open session.

              Reply
  71. aditya

    November 26, 2015 at 11:11 PM

    Please let me have your help here.
    I understood the process Pre Open Session as you have explained. However, one question that I have is whenever I place an order to buy or sell any stock at market price instead of limit order during Order Collection Period then I suppose my order will be considered in or as equilibrium price. Is that correct?

    Reply
    • Basavaraj Tonagatti

      November 27, 2015 at 12:11 PM

      Aditya-I am unable to get you.

      Reply
      • Akhilesh

        March 15, 2016 at 12:21 AM

        Sir i m having same doubt. Whether we can place buy order at market price instead of limit price in pre-open trading time I.e 9:00 to 9: 08 , so that my order will be executed with opening of market.
        Thank u

        Reply
        • Basavaraj Tonagatti

          March 15, 2016 at 9:59 AM

          Akhilesh-Can you elaborate more?

          Reply
  72. sunny

    October 3, 2015 at 8:43 AM

    Sir

    What are sell & buy in order book column in excel. IT IS NO. OF ORDERS OR QUANTITY?

    Reply
    • Basavaraj Tonagatti

      October 3, 2015 at 9:05 PM

      Sunny-Number of orders.

      Reply
  73. manus

    September 26, 2015 at 2:54 PM

    Dear Sir, I have identified one scrip. My observation is that it definitely goes HIGH from it’s that current days OPEN price. Suppose I want buy that share in the morning with stop loss order but no higher selling price target, what time I should place order? If I have to place buy order what price should write in buying price place in tradetiger to get confirm order? If I put yesterday’s closing price will I get order? If it gap opening at higher price then I can not decide price. I am confused. But I am sure it goes definitely higher from open price except for few days. Please guide me.

    Reply
    • Basavaraj Tonagatti

      September 26, 2015 at 6:12 PM

      Manus-If I know that then I may be called as GOD.

      Reply
      • manus

        September 26, 2015 at 6:33 PM

        No sir it is not like that. If u give me ur e-mail address I can send u excel file with my observations. U have to tell me my thinking right or wrong. U have to guide me. That is all.

        Reply
        • Basavaraj Tonagatti

          September 26, 2015 at 6:56 PM

          Manus-You can send mail to tonhokrani@gmail.com

          Reply
  74. Sreeni

    August 29, 2015 at 3:49 AM

    Hi sir,
    I have done MBA after BSc , currently working for an Investments firm(2.5 years of experience into BPO finance operations). I am planning to do Certified Financial Planner course. Is it a right move. if so what would be the career as CFP and also can u suggest some good Institutions in Bangalore. Please let me know the course duration and expected fees for it. Thanks in Advance.

    Reply
    • Basavaraj Tonagatti

      August 29, 2015 at 5:00 PM

      Sreni-It is good to know that you are interested in pursuing CFP. There is a huge scope for it. As far as institutes, I did my CFP under my mentor Mrs.Padmalochini who not associated with any institutes, but handles the classes individually. Institutes only care for you up to the time of your fee payment. Later on they not bother whether you completed or not. Hence, I suggest to follow her. If you need her contact details then mail me at tonhokrani@gmail.com.

      Reply
  75. manoj chandra

    August 13, 2015 at 6:24 PM

    Hi Sir,

    I bought nitin spinners at 1408@ 73 and due to upper cicuit it went till 103 and now its on lower circuit and has fell to 81.90. im placing a sell order everyday and my order is being pending as there are some 3 lakh pending orders, today my sharekhanbroker has told me i should place order at 11pm in the night i.e premarket session, i dont knw if this is true or not…is he fooling me?? I need to sell my stock at any cost before it crosses my buy price. so tomorrow is the day and i need to place an order….plz help me! do i need to place an order at 11pm tonyt or 9am tomrw morning….i have calculated the price fall since the last three days…its 4.75 fall one day,next 4.5 and today it fell 4.2….so by this trend im assuming it will fall 4rs tmrw, i need your suggestion at which price shall i place the order and at wat time i should place…manoj4cinema@gmail.com is my email id, plz kindly help me with an advice as early as possible
    THanks a lot in advance
    Manoj Chandra

    Reply
    • Basavaraj Tonagatti

      August 13, 2015 at 6:44 PM

      Manoj-I am not an expert of direct equity.

      Reply
  76. Raj

    August 12, 2015 at 8:09 PM

    Dear sir, Nice to see you replying all the queries. I have a question. I am using investing.com for nifty and banknifty Future chart. In that i’m seeing candles from 6:30 am to 9:15 am and then normal market hours candle. how is it possible in Future sir?. Kindly see the investing.com streaming chart, you will see the above info. please let me know your thoughts.

    Thanks
    Raj s

    Reply
    • Basavaraj Tonagatti

      August 13, 2015 at 10:53 AM

      Raj-I am not sure how they are showing price movement of a chart after market closure. As per me, the new movement starts from 9.15. Raise the same with your broker.

      Reply
  77. lalit bareja

    August 6, 2015 at 12:11 PM

    dear sir please tell me from where I can get all the entered orders in any particular script like when we checking on nse pre market page it only shows buy qty and sell qty ato and total if I want to check all enterd orders with al the rates in pre market. I mean want to get all the pre market order detailed summary

    Reply
    • Basavaraj Tonagatti

      August 6, 2015 at 7:41 PM

      Lalit-Contact your broker.

      Reply
  78. sreenivasulu

    August 6, 2015 at 4:00 AM

    Hi sir ,
    I have one doubt. if previous close of x share is 100rs. So i have placed an order of 10 shares at 100,and it goes down(say 98) in pre open session. So i wanted to cancel it before 9.08(end of pre open session). is it possible to cancel or as soon as it reached 100 it is excecuted. please explain briefly

    Reply
    • Basavaraj Tonagatti

      August 6, 2015 at 9:50 AM

      Sreenivasulu-You can not modify orders after 9.08.

      Reply
      • sreenivasulu

        August 7, 2015 at 1:16 AM

        Thanks for your reply. Actually I am not modifying. I placed an order at 9.01 or earlier but in pre open session Stock price is going down and i could notice it at 9.05 (still 3 minutes to end pre open session) so can i cancle it before 9.08(say at 9.06 or 9.07) or it would have been excecuted already

        Reply
        • Basavaraj Tonagatti

          August 7, 2015 at 12:44 PM

          Sreenivasulu-You can cancel or modify the orders before 9.08.

          Reply
          • sreenivasulu

            August 7, 2015 at 11:29 PM

            Thanks

            Reply
  79. Amit

    August 5, 2015 at 11:13 PM

    Hi,

    I have a question. In the BSEIndia website when I checked Bharati Airtel price in todays trade it dispalyed as follows

    Previous Close : 413.70 Open : 427.00

    Why there is difference in Previous close and open price ?
    Any information on this would be appreciated

    Thanks

    Reply
    • Basavaraj Tonagatti

      August 6, 2015 at 9:53 AM

      Amit-When trade start today and there are huge buyers then automatically the first trade get executed at higher price (in your case it is Rs.427). So it shows the difference. At the same time, when there is a huge sellers then the price will automatically goes down (like 310) also.

      Reply
  80. Nikhil

    August 5, 2015 at 6:31 PM

    I have one small doubt, consider a company xyz

    SYMBOL qty EP Prev.CLose
    XYZ 5000 100 90

    I am a little confused with the qty here, does it state 5000 shares have been traded for this stock at EP?

    Thank You

    Reply
    • Basavaraj Tonagatti

      August 5, 2015 at 7:19 PM

      Nikhil-Please provide the exact stock name and format of which you have confusion.

      Reply
      • Nikhil

        August 5, 2015 at 8:01 PM

        Like say for today 5th of Aug 2015 Preopen market of TATASTEEL is like

        EP: 260 %Chng:1.44 Prevclose: 256.30 Qty :13,516

        Does this mean 13,516 shares have been traded for the Ep price. *EP being equilibrium price*

        Can yo please let me know the role of QTY in Premarket sessions

        Thank You

        Reply
  81. Adarsh

    August 1, 2015 at 11:52 PM

    Its very nice article, i m novice in the stock market, your article made me understand the pre market session, but i have a doubt. i have a sell order in the day market at the closing price at under price(friday), due to less demand it could not get executed. but i could see the price after 3.30 has appreciated beyond expectation. my question is that can i place pre market order to sell on monday market for the same stock?

    Thanks basavaraj in advance.
    Adarsh

    Reply
    • Basavaraj Tonagatti

      August 2, 2015 at 1:02 PM

      Adarsh-Yes, you can place it.

      Reply
      • harsh garg

        August 4, 2015 at 11:29 PM

        sir, what is your view on hero motocorp after today’s fall. is it increasing in this month ?

        Reply
        • Basavaraj Tonagatti

          August 5, 2015 at 9:22 AM

          Harsh-I am not a trader.

          Reply
  82. Dhaval

    July 29, 2015 at 10:44 PM

    I learning share market last 6 month I want to know how can I know premarket buy n sell price. So I can buy or sell stocks.

    Reply
    • Basavaraj Tonagatti

      July 30, 2015 at 12:42 PM

      Dhaval-It is already explained above.

      Reply
  83. vishal

    July 15, 2015 at 3:57 PM

    Hi Basavaraj ,

    I have placed the Buy order of 500 shares at 59.75 . the market was about to close . so my order was partially executed and executed quantity was 100 . But the strange thing is the share closed at 59.65 . I mean how can it be possible ? Will my remaining quantity go to pre market session next day ? Kindly clarify .

    Reply
    • Basavaraj Tonagatti

      July 15, 2015 at 4:01 PM

      Vishal-Punching at server of NSE or BSE makes this difference in execution. No, it will not carry forward the order. It is considered as lapsed order.

      Reply
      • vishal

        July 15, 2015 at 4:17 PM

        Thanks a lot for replying . But still its difficult to understand that my order is already partially executed at 59.75 which means my order should be considered first as a buy at this price on the first come first serve basis .

        So , now the question is if my order was already there at 59.75 , how can the stock reached the 59.65 level without fully executing the partially executed order at 59.75 .
        This is total strange and my money is blocked for 500 shares instead of 100 shares. I am not understanding it .

        Reply
        • vishal

          July 15, 2015 at 4:26 PM

          The concerned Stock here is Kopran. You can check at what price it is closed at NSE .

          Reply
        • Basavaraj Tonagatti

          July 15, 2015 at 8:20 PM

          Vishal-If the money blocked for 500 stocks then it is purely wrong. I think you check the DP statement. If the money blocked then in my view orders executed.

          Reply
  84. Jvain

    May 31, 2015 at 11:04 AM

    Hi,
    I checked Pre-Open Order Collection for NSE at http://www.nseindia.com/live_market/dynaContent/live_watch/pre_open_market/pre_open_market.htm. When I click on any scrip it tells me me buy QTY, Price and Sell QTY. and finally it shows Pre-Order Collection summary. I am unable to follow your instructions above in those examples and IEP is something different. Can you please explain how the aggregation works in buy and sell qty? I think that is one of the parameters for deciding the price.

    Thanks
    J

    Reply
    • Basavaraj Tonagatti

      May 31, 2015 at 12:21 PM

      Jvain-Check while market is in pre-open session and you come to know the applicability of above theory.

      Reply
  85. sanket

    May 22, 2015 at 1:43 PM

    How this will work if there is no quantity on any equal buy and sell price.

    Reply
    • Basavaraj Tonagatti

      May 22, 2015 at 6:37 PM

      Sanket-If there is no selling or buying order then the order will not execute. To say in a different format, we must have buyers or sellers for trade to take place.

      Reply
  86. madhur

    May 16, 2015 at 9:21 AM

    i think there is mistake in scenario 2

    Reply
    • Basavaraj Tonagatti

      May 16, 2015 at 11:28 AM

      Madhur-Please let me know why you felt so?

      Reply
  87. Rohit

    March 19, 2015 at 1:28 AM

    Is this the reason…if the stock is up 5% in pre-open…as soon as the market opens…the stock goes down….

    Reply
    • Basavaraj Tonagatti

      March 19, 2015 at 10:17 AM

      Rohit-It happens…watch the movement of few stocks.

      Reply
  88. Milan Bhogayata

    March 18, 2015 at 4:03 PM

    Hi Tonagatti,

    Very Nice Article and helpful for Traders…..
    One question confusing me that…. if Order will excecute after 9:08 AM, then why NIFTY and SENSEX Keep Changing from 9:00 AM to 9:15 AM Continue in Up/Down Pattern with huge Difference.

    What is the Reason for that…. ?

    Reply
    • Basavaraj Tonagatti

      March 18, 2015 at 4:47 PM

      Milan-Please notice. After 9.08 it will not change.

      Reply
  89. mohammed

    March 17, 2015 at 12:53 PM

    Nice article..feeling great..

    but neeed some more clarification,..

    1.how pre open market is helpful?

    2.how to decide the trend upside/downside based upon preopen market?

    Reply
    • Basavaraj Tonagatti

      March 18, 2015 at 8:45 AM

      Mohammed-1) I am investor and for me it does not matter. But for traders it make sense to judge the future course of rate. 2) You can’t predict.

      Reply
  90. deenu

    February 17, 2015 at 12:08 AM

    very good article, thanks for updating my knowledge

    Reply
  91. Boka

    January 23, 2015 at 1:38 PM

    Great writeup. What a way to shaft innocent derivatives holders. The pre-open session has been the biggest fraud heaped on unsuspecting traders of NSE/BSE. I don’t understand why dalal st. crooks are allowed to benefit from gap openings and retailers/small investors always lose. SEBI is very much a party to this institutional fraud. We have the same round robin trades throughout the day. Indian markets are no longer Indian.

    Reply
    • Basavaraj Tonagatti

      January 23, 2015 at 1:51 PM

      Boka-Thanks for your views 🙂

      Reply
  92. Vijay

    January 13, 2015 at 7:58 PM

    Hi Bavaraj,

    Is this applicable to FnO also? One more query…where does this demand and and supply came from?

    Reply
    • Basavaraj Tonagatti

      January 13, 2015 at 8:13 PM

      Vijay-It is applicable to equity but not to F&O. Demand and supply will come from the sellers and buyers who place the orders.

      Reply
  93. Investor

    January 9, 2015 at 8:44 PM

    I saw many days that NIFTY price changes at 9AM itself (you can see that on CNBC TV 18 too). How can this be? The market has to discover price from 9:08 to 9:12 right? How come price changes at 9AM and further changes at 9:15 AM?

    Reply
    • Basavaraj Tonagatti

      January 9, 2015 at 9:43 PM

      Investor-Don’t check CNBC or any news channel. Instead either check your trading terminal or NSE site itself.

      Reply
  94. Sachikant Bhisane

    December 2, 2014 at 12:13 AM

    Thanks for a very nice article. One question to you Sir. For an equilibrium price , where demand is more than supply, few people will not get shares. How it is decided who will get shares and who will not..? Who decides this.? Thanks,

    Reply
    • Basavaraj Tonagatti

      December 2, 2014 at 12:36 PM

      Sachikant-It is again who placed the order at first and decided by exchange as it will have data with timing.

      Reply
      • Nisar

        December 2, 2014 at 9:51 PM

        Hi Basavaraj,

        Do you know any link where we can get archive data for opening pre session qty. I feel this is the
        deciding factor how share is going to react whole day.

        Regards
        Nisar

        Reply
        • Basavaraj Tonagatti

          December 3, 2014 at 8:14 AM

          Nisar-I am not aware of such data. But if possible you can try with NSE or BSE.

          Reply
  95. utkarsh

    November 25, 2014 at 5:44 PM

    Really Good Article..

    Reply
  96. Dominic

    October 28, 2014 at 12:49 PM

    Really good article..
    How is it beneficial to know about the Pre Market as by the time trades get confirmation so do the price too may get changed (i believe,may be i am wrong) of an xyz company?

    what is After Hours Trading Session?

    Are stocks gets manupulated by big investors? As they buy in huge quantity and sell them off as soon as posible
    i am a rookie..please can u suggest somthings more things to gain knowledge that will be really helpfull
    looking forward for your answer
    thanks

    Reply
    • Basavaraj Tonagatti

      October 28, 2014 at 1:29 PM

      Dominic-Pre-Open Session will give indication. Regarding After Hours Trading Session, you find wonderful explanation HERE. Yes sometimes they get manipulated. But there is something called circuit breaker to stop such huge manipulation.

      Reply
  97. Vimal

    September 24, 2014 at 11:17 PM

    Sir, If I place a order in pre-open Market for buy xyz share in Rs. 100 and the equilibirum price comes Rs. 95 than on which price my order get executed. If my order get executed on Rs. 95 for which i had bided for Rs. 100. please tell Rs. 95 shall be debited or rs. 100 shall be debited from my account.

    Reply
    • Basavaraj Tonagatti

      September 25, 2014 at 10:31 AM

      Vimal-Amount will be always debited based on executed price.

      Reply
  98. Mahesh Vakharia

    September 13, 2014 at 11:05 PM

    With due respect to you Sir,
    Since last one week I am putting my buy order for Aimco Pesticide at 5% Upper Circuit Limit , but My order NOT GETTING EXECUTED . What is the mechanism , why my order is not getting execution ? I am entering at shaft 8.45am on BSE terminal . Can you please guide me how can I PUT my order atFirst , , so that I can atleast get 100 shares ?
    With regards
    Vakharia Mahesh

    Reply
    • Basavaraj Tonagatti

      September 14, 2014 at 10:19 AM

      Mahesh-The process is already explained above. For further clarification you can contact your broker.

      Reply
  99. Rahul

    August 22, 2014 at 2:58 AM

    Hi Basu ,
    Superb Article!!!!!
    Could you please elaborate on Advantages and Disadvantages of Day Trading..?

    Thanks in Advance.
    Rahul

    Reply
    • Basavaraj Tonagatti

      August 22, 2014 at 9:32 AM

      Rahul-Day trading is more of disadvantages than advantages. It need a full fledged post to discuss about it. But this is my opinion.

      Reply
  100. Atanu

    August 8, 2014 at 8:37 AM

    When I can place an order in pre=market session? Should I use AMO or can I place the order like normal (market open time) time I do?

    Reply
    • Basavaraj Tonagatti

      August 8, 2014 at 11:35 AM

      Atanu-AMO stands for?

      Reply
      • Atanu

        August 12, 2014 at 7:44 PM

        After Market Order

        Reply
        • Basavaraj Tonagatti

          August 13, 2014 at 10:15 AM

          Atanu-You can place orders normally either at market price or at trigger price.

          Reply
  101. Vishwas Dole

    July 31, 2014 at 9:35 AM

    Hello
    I really appreciate for the contents of article, but there are some doubts may be because stock market is new for me. I will be glad If you clarify the following doubts.
    Scenario I – Order book – buy and Sell – are these quantity for a period say 9.00 to 9.12 or at a start of session.
    Demand and supply quantity and Maximum trad able quantity – not clear to me, how you derived these quantity numbers.
    Unmatched orders – is the difference between demand and supply? Why it can not be difference between buy and sell.

    Thanks

    Reply
    • Basavaraj Tonagatti

      July 31, 2014 at 10:54 AM

      Vishwas-Quantity numbers are based on placed orders during that period. Unable to understand your second doubt. Please elaborate more.

      Reply
  102. mimvs

    July 15, 2014 at 5:26 PM

    I m mechanical engineer but want to learn day trading, is there any job about trading

    Reply
    • Basavaraj Tonagatti

      July 15, 2014 at 6:18 PM

      Mimvs-Do you know the risks involved in day trading??

      Reply
  103. Varun

    June 6, 2014 at 11:59 AM

    Excellent Article!!

    Can you please elaborate on “Price band of 20% shall be applicable on the securities during pre-open session.”

    Reply
    • Basavaraj Tonagatti

      June 6, 2014 at 12:46 PM

      Varun-I don’t think it will be applicable during pre-open.

      Reply
  104. Ananth

    May 27, 2014 at 6:24 PM

    Hi,

    Very nice article. Is there any partial execution happens in pre-open market? If yes, Premarket partial executed market orders, what rate it will be executed in the regular market?

    Reply
    • Basavaraj Tonagatti

      May 27, 2014 at 7:15 PM

      Ananth-Whatever partial orders will be converted to market regular orders and once price tick at that level then they too get executed.

      Reply
  105. Prasanth

    March 8, 2014 at 7:44 PM

    Then what about market orders. How it ll get execute?

    Reply
    • Basavaraj Tonagatti

      March 8, 2014 at 8:07 PM

      Prasanth-Market orders are nothing but the orders executed at market price.

      Reply
  106. San

    October 8, 2013 at 8:40 AM

    Nice article

    Reply
    • Basavaraj Tonagatti

      October 8, 2013 at 9:08 AM

      San-Pleasure 🙂

      Reply
  107. krishna

    June 17, 2013 at 10:38 PM

    but why there is always a significant move in pre market as compared to normal trading sessions? and also if our limit order does not get executed in pre market , then later do we have a option to modify or cancel it?

    Reply
    • Basavaraj Tonagatti

      June 18, 2013 at 9:30 AM

      Krishna-It is the speculation that leads to high volatility during this period. Later part the non executed orders are considered as limit orders hence you have option to modify or cancel them.

      Reply
    • Biplab Paul

      April 12, 2020 at 12:02 AM

      Hi, please clarify one point during pre market trading.

      Suppose i place a buy order at market price @9 AM (which shows last day traded value), does it automatically pick the market price after call auction price and execute the buy order or it waits till 9.15 am to pick the stock open price and then execute the buy order.

      Reply
      • Basavaraj Tonagatti

        April 12, 2020 at 12:03 PM

        Dear Biplab,
        It waits up to 9.15.

        Reply
  108. sumeet gupta

    July 18, 2012 at 6:07 PM

    Hii Basu

    A very nice article
    I want to know about how price band works ?
    and what do you mean by buffer period ?

    Reply
    • BasuNivesh

      July 18, 2012 at 6:22 PM

      Sumeet Gupta-Are you asking about IPO Price Band? Then it is the decision of Issuer who decides price band for that particular issue consulting with underwriter of that issue. Basically it is based on the company valuation and expected demand. Regarding buffer period, I wrote in above post. It is the transition period from pre-open to normal market period. Hope I answered your queries.

      Reply
      • Saravana

        April 29, 2013 at 11:14 AM

        Thank you so much. I was longing for this . I have one question , all market orders will be executed , n what about the limit orders which are matched with decided pre open price?

        Reply
        • Basavaraj Tonagatti

          April 29, 2013 at 11:26 AM

          Sarvana-They will converted into normal limit orders (I mentioned the same in last lines of this blog).

          Reply
          • D Basumatary

            January 28, 2015 at 2:57 PM

            Can you tell me what are the risks involved in day trading. I am novice in this field

            Reply

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