Various Orders and Transactions:
There are various types of orders, which can be placed by the buyer or seller. They are:
A market order is to be executed as soon as possible at the best prevailing price in the market.
A limit order is constrained by the price limits specified by the investor. The seller specifies the minimum price that the security must fetch, and the buyer specifies the maximum price that he is willing to pay.
A Day order
A day order remains valid only for the day when it is placed. If the order is not executed on that day, it automatically lapses.
A Week order
A week order is one, which is active for a week
A Month order
A month order is an order, which is valid for one month.
An open order
An open order is an order, which is valid for one month. An open order remains in effect until it is executed or cancelled.