This allows the trading member to place an order, which gets activated only when the Last traded price (LTP) of the Share is reached or crosses a threshold price called as the trigger price. The trigger price will be as on the price mark that you want it to be.
When a trigger price (TP) is specified in a limit order, the order becomes one, which is conditional on the market price of the stock crossing the specified TP. The order remains passive (i.e. not eligible for execution) till the condition is satisfied. Once the last traded price of the stock reaches or surpasses the TP, the order becomes activated (i.e. eligible for execution by being taken up in the matching process of the exchange) and then on behaves like a normal limit order. Click here
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