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What is creating GTT in Zerodha?

Jaleel M

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This article’s main issue that will be addressed is what is creating GTT in Zerodha. We will explore what GTT is and whether we can cancel GTT in Zerodha or not. But let’s look at the unique trading platform Zerodha first.

Zerodha

Nithin launched Zerodha in 2010 to overcome the problems he faced during his decade as a trader. Today, Zerodha has transformed the Indian brooking industry. Nitin was a member of the SEBI Secondary Market Advisory Committee (SMAC) and the Market Data Advisory Committee (MDAC).

To break all obstacles that traders and investors face in India related to cost, support, and technology. They named the company Zerodha, a mixture of Zero and “Rodha” derived from a Sanskrit word that means barrier, and Zerodha means ‘zero barriers.’

Stock graph;- showing growth of a stock

What is creating GTT in Zerodha?

GTT is a kind of feature that allows you to set a trigger price, such that; if your expected price achieves at a future date, a limit purchase on the trade as per the limit price and preset conditions set by you. GTT can be utilized only for CNC-type orders in the Equity Cash segment on NSE & BSE. There are two kinds of GTT. 

  • Buy GTT  feature that allows you to set a trigger price, such that; if your expected price achieves at a future date, a limit purchase on the trade as per the limit price and preset conditions set by you.
  • Sell GTT is used to clear current stock holdings, either just a target order or both stop-loss and target where triggering of one will cancel the other (OCO).

Does Zerodha charge for creating GTT?

Yes, you can cancel your GTT transaction before the trade has happened. You can withdraw the order once the trigger gets hit. If you want to cancel the order before the trigger condition gets hit, you have a chance to delete the trade.

Can we cancel GTT in Zerodha?

Yes, you can cancel your GTT transaction before the trade has happened. You can withdraw the order once the trigger gets hit. If you want to cancel the order before the trigger condition gets hit, you have a chance to delete the trade.

On what grounds has my GTT been declined?

There can be so many reasons for which your GTT can decline; some of them mentions below:-

  1. If you haven’t verified your sell GTT using CDSL TPIN.
  2. If you don’t have sufficient money in your Demat account.
  3. If there were a Commercial Action for the stakes, you would hold.
  4. If you have disabled the part using the Kill Switch.

Conclusion

GTT is an element that allows you to set a limit for a particular share over a period; if the stock prices touch your expected GTT, then your sell and purchase have been made. GTT is used to buy or sell enormous numbers of shares at once.

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