What is Price Improvement Order in ICICIDirect?

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The ICICI Direct Price Improvement Order helps you to get a better price while buying and selling in a highly volatile market. It uses an auto-trailing stop loss facility. The system automatically updates the Stop Loss Trigger Price and Limit Price based on the price movement. This dynamic pricing ensures better profits from the trade.

This feature allows you to place orders with an auto-trailing stop loss facility where the stop-loss price for your order would decrease automatically with the fall in market price. If the market rebounds upward, then your order will get executed as per the new stop-loss price which would be a better price for your orders.

For example, you place a price improvement order for selling a stock. The share is trading at Rs 510, and you put a Stop Loss order of Rs 500. You want to benefit from the upward movement in stock price. Now as the stock prices move up, your stop loss will also move up. So, when the price moves to Rs 520, the stop loss would automatically move to Rs 510. When the price moves to Rs 540, the SL would move to Rs 530. Now, the share price falls, stop loss would get triggered at Rs 530 and you would gain Rs 20 more than your initial position.

To place a Price Improvement order, visit the 'Advanced Order' under the Equity or Futures trading section. The orders can also be placed from cash buy/sell and BTST wherever the 'Place Price Improvement Order' link is available.

Note:

• The trailing amount is the difference between LTP (Last Trading Price) and SLTP (Stop Loss Trigger Price) for a Price Improvement order. Each eligible stock has a defined minimum trailing amount. The minimum trailing in your order cannot be less than the amount defined for a stock.
• The minimum trailing amount for a stock can be seen from the 'Stock lists'
• You can place the Price Improvement order in both NSE and BSE.
• Price Improvement order can be placed at any time during market hours. Placing PIO orders in aftermarket hours is not allowed.
• The facility is available in selected stocks.
• You can modify the Price Improvement order to a normal cash order 96 times.