Comment on Introducing 20 depth or level 3 data on Kite

Bandar Singh commented on 11 Nov 2019, 02:24 PM

This is by no means to demoralise Zerodha. It may be useful for other people I don’t know. But from what I observed I tried using it today – this depth details only lead to confusion and made me avoid a trade because I saw a heavy sell order at a certain point. However the moment the share traded closer to that price, that sell order disappeared. Usually institutional investors don’t keep orders pending. In fact even retail traders put Buy SL orders and they are not immediately visible on the market depth. It probably was some retailer or stock manipulating cartel that keeps shifting orders as prices move closer to that level. I don’t know how it works for others but I found that this isn’t really so much of a help while trading in stocks unless you’re a really big trader who can scoop up all pending orders in no time. I thought it might have been an exception with that share only and tried a Sell SL on another share just below where there was a huge buy order pending. However the sell order executed and then bounced even though the buy orders below that were of very low quantities. My SL got hit.

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