Comment on Pre-market/Post-market/After-market Orders

Amit Nanda commented on 03 Dec 2015, 03:52 PM

I spoke to Zerodha customer care and also read the complete blog above regarding AMO. I am getting contradictory information from the article above and what was told to me by customer care; hence the question here.

I have a position in Nifty Futures that I would like to square-off at the Open price (at 9:15:00 am) or as close to 9:15:00 as possible. There are 2 options:
1. Place AMO as Market Order before the market opens
2. Place a Market Order manually from Pi as soon as the market opens, that is, 9:15:00 am

I was told by customer care that if I place AMO, the order would be executed exactly at Open price at 9:15:00 without any delay. However this is probably not true based on what is written above and the order would be queued up for execution in the next few seconds. There is a contradiction here. I guess what is mentioned above is correct (it would be queued up and it would take a few seconds to get executed as Market order for AMO orders).

2 questions:
1. Which of the above two options have greater probability to execute closer to 9:15:00 am?
2. For AMO Market Orders, how much time in seconds (a rough range) does it typically take to get executed after 9:15:00 am?

This is for Nifty Futures of near month, which are always very liquid.

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