Comment on Introducing Sentinel baskets
commented on
13 Dec 2018, 03:12 PM
ICICI Direct is having VTC [ valid till cancel ] order mechanism. Where I can order and forget about it say . Say buy Maruti at 7000. Whenever the price hits 7000 the order gets triggered. The write on FAQ at ICICI direct is encl
Pl inform can we place order in this fashion at ZERODHA,
Valid Till Cancel (VTC)
What is “VTC”?
Valid Till Cancel VTC is a new facility offered through ICICIdirect.com using which you can place buy and sell Limit orders in scrips of your choice specifying the period for which you want the order instruction to be valid. The period selected by you should be within the maximum validity date defined by ICICI Securities Ltd. (I-Sec).
How does VTC order feature work?
When you place a VTC order, you give an order instruction to I-Sec stating that if the order is not executed for the entire quantity, I-Sec is authorised to place fresh orders for the unexecuted quantity in your account on the subsequent trading days till the entire quantity is executed or till the validity expires, whichever is earlier. The feature allows you to specify the number of days during which you wish to place the orders.
Your VTC order will remain valid but will be expired at the end of every trade date if the order remains unexecuted and if not cancelled or rejected. At the end of day, after market hours, I-Sec will place overnight orders on your behalf at the same limit price and for the unexecuted quantity for the next trade date provided your validity date is less than or equal to the next trade date.
For example, On trade date 14-03-2011, you can place an order with VTC order validity to buy 100 shares of BHEL at a Limit price of 1800 with order validity date 16-03-2011. Hence your VTC order will be valid till 16-03-2011 if not fully executed