• HDFC securities
• 07 Dec 2021
• Basket Order,Basket investing

The two pillars of stock trading success are stock selection and quick order placement. Given how quickly prices move in the stock market, even a few minutes of delay can mean the difference between profit and loss. On the other hand, wrong stock selection is the recipe for disaster in any financial market.
To help traders capitalize on stock price moves while supporting easy stock selection through our research, HDFC Securities has launched the facility to place basket orders. Committed to trader success, the company regularly innovates with new features on its l web trading platform and mobile trading app. Going one step further, the company has launched the #FaydeKeFeatures initiative, under which several innovative features and functionalities have been introduced. Basket orders are one such feature.

What is a Basket Order?

With this facility, traders can place multiple orders for the same scrip or for several different scrips, in one go. Available for both equities and equity derivatives, basket orders offer the ease to club multiple trading orders with just a single click. This can save a lot of time and effort for traders, who would have otherwise needed to place one order at a time for different scrips.
This facility gives a huge amount of flexibility and control to traders. They can customize each basket to fit their trading style, and preferences. A trader can place up to 5 basket orders at a time, with each basket consisting of a maximum of 15 scrips. A single basket can contain both stocks and equity derivatives.

Basket orders offer additional flexibility to investors by allowing the creation of baskets after-market hours as well. Moreover, it allows execution of the basket either in one go or partially, during market hours. The basket created by the trader gets saved, which means that they can use the same basket on subsequent trading days as well.

It also makes it much easier for traders to allocate their capital across different stocks or derivatives. Same basket can contain both buy and sell-side transactions.

HDFC Securities also gives traders the flexibility to modify their baskets. All traders need to do is untick the scrips they don't want the order to be executed on currently. This gives a great deal of control over-trading. Traders can choose to add or remove individual stocks from the basket to ensure optimal returns, based on their market analysis. The best part is that traders gain the convenience of placing multiple orders with just a single click. Plus, both buy and sell orders can be placed for multiple stocks.

Conclusion

Basket orders have long been used by institutional investors to buy and sell multiple securities in one go. The basket a trader creates can be as eclectic as they want it to be, giving them opportunities to personalize and place multiple trades. With the facility to create up to 5 baskets, each containing a maximum of 15 scrips, traders could place orders for up to 75 scrips in one go. The addition of this feature to the HDFC Securities trading platform highlights the company’s focus on easing trading and ensuring the best trading conditions for its clients.

 

 

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