iCharts Discussions

[iakash]

A very freak incident happened today and i want to know if other traders in this forum faced the same thing:

I would like readers to go thru this carefully and give their views...

Today i bought 1 lot of Minifty April Futures at 9:30 am.

After price crossed 5300 i placed stop loss limit order.

Even though my trigger price was never reached, my order got executed at 12:42pm.

When i contacted Zerodha (my broker) guys, they showed me a freak trade that happened at 12:42pm at the price of 3512

They said that this trade triggered your stop loss.

Now, i am completely bemused that how come such a trade can happen at such a low price. Shouldn't NSE prevent such incidents, because such freak trades will take out everybody's stop losses and most traders will end up red faced.

If such a freak trade has happened, then there are bound to be other traders who also faced the same situation. I would like them to come forward and express themselves.

If such things are going to happen, then nobody's stop loss will ever be safe.

Another thing of concern is that when i checked Minifty values on NSE website, it shows today's low as 5238. If a freak trade happened at 3512, then that should have been shown as the day's low. So, i am in doubt whether this is error on NSE's side or Zerodha's side.

I have already raised this issue with Zerodha but i am posting here so that if there are others who faced this problem, we can voice it together.

- Akash.

[lucky143]

in IIFL also Mini Nifty low 3512

[kishjk7551]

@ iakash

the freak trade did happen and the volume traded is almost 28 lakhs because so many stop losses got triggered at one go .

[iakash]

[kecvsagar]

Hi,

This is a serious issue and you have to take up the matter with SEBI. As all the orders are routed thru' different broking houses' servers, before finally executed on NSE Server, there is possibility of some Mischief and this needs to be thoroughly probed to clear the doubts of traders.

Vidyasagar

[kishjk7551]

Sorry everybody its 28 thousand and not 28 lakhs sorry for the typo.

[chandrujimrc]

Dear Akash,

You raise the issue with Nse and SEBI and ask them to reply under RTI act.

[vinay28]

the trade was cancelled later, from what I understand. you should take up with your broker and sebi

[chandrujimrc]

Hi Akash,

AS per NSE website Low 5238,but as per NSE chart 3512..So there is no chance for fault at Zerodha.

[vinay28]

that's not the point chandru. what if broker's record shows cancellation but he doesn't pass on to client?

[iakash]

[vinay28]

first of all, you need to confirm from nse or sebi that the trade was indeed cancelled. I have posted what I heard in the afternoon before market close. If it is true, you need to get some valid info from them and show it to your broker. I have asked a friend to get me proof/more info but I am not sure whether it will come.

in worst case, chandru's advice on invoking rti is good but time consuming

[vinay28]

however, the situation is not as bad as my reply may sound. If the trade was indeed reversed, it will get repeated in your broker's record and hence your record. Just find out from nse/broker tmrw

[iakash]

[vinay28]

may be but reversal, if any, will appear tmrw. you definitely need to pursue it