uTrade AlgosYour limit order may not have been executed even though the market price hit your specified level due to the price-time priority mechanism used by exchanges.
How Price-Time Priority Works:
When an order is placed, it receives a timestamp, which determines its execution priority. Orders at the same price level are processed on a first-come, first-served basis.
Why Your Limit Order Wasn’t Filled:
Order Priority (Price-Time Priority): If multiple orders exist at the same price level, those placed earlier take precedence. If higher-priority orders were executed first and exhausted available liquidity, your order might remain pending.
Lack of Market Liquidity: Even if the price hits your limit, there may not have been enough buyers or sellers to match your order. This is common in low-volume stocks or commodity contracts, where fewer participants are trading at any given time.
Partial Fills: If there weren’t enough shares or contracts available at your price, only a portion of your order may have been executed. Checking your order status can help confirm if a partial fill occurred.
Short-Lived Price Movement (Market Volatility): If the market price touched your limit only briefly, rapid fluctuations might have prevented execution. Prices can move too quickly for your order to be matched, especially in highly volatile trading conditions.
Price Reached on a Different Session: The limit price may have been hit during pre/post-market hours but not in the session when your order was active.
To improve the chances of execution, you may consider placing limit orders earlier, choosing more liquid assets, or using marketable limit orders that slightly adjust the price for better fill probability.
In case you face any issues or need any support while using the platform, you can contact the Share India support team via email at support@shareindia.com or by phone at 1800 203 0303.