In earlier days order placing for buying or selling shares was very difficult but now you can do this online. You just need to understand some basic concept and a few things.
If you your broker is edelweiss and you are newbie in share market then this post will be very helpful to know “how to place order through edelweiss”. Here I will discuss on order place method through edelweiss trading portal.You need to log in to your trading portal and follow the below mentioned steps.
Share brokers (ICICIdirect, Edelweiss Ltd & Sharekhan)
Which discount share broker will be best suited for you?
How to place order through edelweiss?
- Select exchange: You have to select either NSE or BSE
- Search your stock name and select the code for your stock
- Select order type: Limit or Market (Limit: You can put your desired price for buying the share and when current market price will reach your mentioned price and sellers are available then your order will get executed, Market: If you select market then you do not need to mention any desired price for buying)
- Retention: Day or IOC (Day: Your order will be active for whole day, IOC-Immediate Or Cancel: Your order will get canceled if it is not executed immediately)
- Product type: Delivery, Intraday & Normal (Delivery: You have to pay full amount for buying shares and after execution of your order you will get your shares at your demat account within T+2 working days where T is your transaction day, Intraday: Here buying and selling of shares are done on same day. You will get an advantage of low margin on total trade value, Normal: You can get additional trading limit if you are holding shares in your demat account. But you have to pay due amount within T+2 days.)
- Quantity: Place you desired quantity based on total value you want to invest in that particular stock
- Price: You can write a price only if you have already selected order type as limit
- Disclosed quantity: It is the quantity what you want to show to other players (buyers/sellers) in market.Suppose you want to buy 1000 shares of stock ‘A’ but initially you do not want to show thatÂ quantity as if sellers will see that huge quantity, they may increase price. So for large quantity it is good to disclose your total quantity in some small lots. So for 1000 shares, you can mention 100 or anything else as your disclosed quantity
- Stop Loss Trigger Price: If you place an SLTP then your order will be a passive order. Once your CMP crosses your SLTP then only your order will be active and will be executed once seller is available and CMP reaches your limit price. Mostly during sell order people create SLTP but if you did short sell then at buy order you can put STLP to minimize your loss. (For Buy order: Limit price>SLTP>CMP, For Sell order: CMP>SLTP>Limit price)
Check your buying order properly and then click submit
Once you place your order, then you can check your order status in your order book. You can also check your position for that trading day. If your order is executed then you can see your order in your trade book.
Check your holdings after your demat account will get credited with your purchased shares.
I hope that if you are newbie in share market and want to invest in shares, then this post will help you to know “how to place order through edelweiss”. If you have an demat account with other broker then also it will be helpful to some extent.
Image source: www.edelweiss.in (* how to place order through edelweiss)