In the first week of August 2023, Kotak Securities, one of the leading stockbrokers in India, added a new module called “price alerts” to their trading application Neo. Some users had asked Kotak Securities to incorporate the “alert” feature in their Neo app. The company listened their customers. This module is now available in the mobile/desktop edition of Neo. How does it work? Should you set alerts? Let’s find it out!
Why “alert” is a great feature? You found a great investment/trading opportunity when the market was closed. You decided to not place an aftermarket order and planned to cash in on this opportunity in the next trading session. Many of us may or may not remember the things we plan on the previous day. If you don’t remember the investment opportunity during trading hours, you may not be happy when the stock market closes, and this stock comes to your mind all of the sudden. Here’s when the alert feature of Kotak Neo comes into the picture. This module of Kotak Neo accepts with things from the user – a condition and a number. If the combination of the condition and the number is as per the user’s expectation, the alert system will get into the action. It will send a message to the user.
How to use the alerts feature of Kotak Securities? Click on the three vertical dots that the Neo application displays when the mouse cursor is on the scrip. Now, click on the set alert menu. NEO will now redirect you to a new page if you’re using the desktop or a new interface if you’re using a mobile device.
This page/interface boasts a form which is populated with the name of the scrip and its details. This form also flaunts three buttons – price, quantity, and Greeks. Below these buttons, there are two drop down boxes – one to choose the condition and another to select the value. At the end of the form, you will find a textbox to enter a note. The application will send a text message containing the note when you enter a message in this box and submit the form by clicking the “submit” alert button.
Neo allows you to choose these price conditions – last traded, bid, ask, and open price. You can choose these quantity conditions – last traded quantity, days volume traded, total bid quantity, total ask quantity.
In the value text box, you can enter a number with or without a decimal point. As mentioned earlier, if the value and combination fulfil a condition, Kotak Neo will send a text message to your registered phone number and email address. The alerts interface has a section called “triggered”. To see the list of sent messages, click on the “triggered” option.
The alerts feature of Kotak Securities NEO web/mobile application doesn’t support MCX instruments yet. They are valid from 364 days from the day you create them.
