Comment on Introducing "Varsity"
Hi Nithin,
If a MIS short position is taken in stock X for Rs. 10 and stop loss LIMIT order is placed at price Rs. 11 and trigger also at Rs.11, then I believe 3 things can happen in this scenario mentioned below. Kindly correct me if I am wrong.
1. If price reaches Rs. 11 then stop loss will get triggered. Loss will be Rs. 1.
2. If price does not reaches at Rs. 11 or the available tick of Rs. 11 is not available then I believe the order remains pending.
3. At auto square off just before end of trading hours the pending stop loss will get cancelled and the short position will exit at whatever market price is available
kindly let me know if anything other than the above scenarios is possible.