The GTD (Good 'Till Date) order functionality allows you to set an order that remains active until a specific date. When you place a GTD order, you decide the exact date until which the order should stay open. During this period, if the conditions you set for the order—like a stock reaching a certain price—are met, the order will execute automatically. 

However, if these conditions are not met by the selected date, the order will be automatically canceled. This feature is particularly useful if you want to buy or sell a stock within a specific time frame without the need to monitor and manually cancel the order if it doesn't execute.

Client Obligations:

•   Ensure sufficient funds or holdings in the trading account to accommodate the GTD order; otherwise, the     order may be canceled.

•   GTD orders can be placed via Call & Trade.

Order Execution:

• ARIHANT CAPITAL's risk management system checks orders according to exchange rules, SEBI regulations, and  internal policies.

• ARIHANT CAPITAL reserves the right to modify or cancel orders even when trigger conditions are met under specific market situations:

  • Orders triggered during market gaps may be adjusted or canceled.

  • Orders with insufficient price differentials might be affected.

• GTD orders have expiration dates and are single-use; they must be reset for subsequent attempts.

• Orders linked to corporate actions might be canceled.

• GTD orders are restricted for specific scripts.

• Some option contracts are ineligible for GTD orders.

• Clients are responsible for managing their order book, especially when modifying orders that affect position types.

• Stop-loss orders have adjustable price protection.

• Orders executed outside permissible ranges may be canceled, with associated costs to the client.

• ARIHANT CAPITAL may close positions under specific circumstances, requiring the client to modify related orders.

• GTD orders for derivatives are valid only for specific contracts.

• No additional charges apply to GTD orders.

• GTD stock orders will trigger at 9:00 AM.  

• GTD derivative orders will trigger at 9:15 AM.

Risk and Disclaimer 

Risk: Using GTD (Good 'Till Date) orders carries several risks. Market volatility can lead to rapid price fluctuations, causing your order to execute at a less favorable price than expected. There's also the risk of missed opportunities if the market moves in your favor after the order expires, as it will automatically cancel if not executed by the set date. As time passes, the likelihood of reaching your target price may decrease, leading to the order expiring without execution. Additionally, in fast-moving markets, the order might not execute at the exact price you anticipated, and in low-liquidity situations, the order might not fully fill or reach the target price. These risks highlight the importance of carefully considering market conditions and your investment strategy before using GTD orders.

Disclaimer: It’s important to note that using GTD orders requires careful consideration of market conditions and your investment goals. Past market performance does not guarantee future results, and there is always a risk of loss. Make sure to evaluate your investment strategy and understand the risks before placing a GTD order.

Definitions 

• GTD Order: An automated order triggered by a specific price. 
• Limit Order: An order with a predefined price. 
• Last Traded Price (LTP): The most recent traded price of a security. 
• RMS: ARIHANT CAPITAL's risk management system. 
• Trigger Condition: The price level that activates the order.