How to trade in Pre-Open Market session?

Learn everything about Pre-Open Market session

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What is Pre-Open Market session

If you’re interested in finding out how to trade in pre-open market session, keep reading.

Taking a trade in Pre-open market session is easy and simple in both NSE and BSE.

How to trade in Pre-Open Market session?

Prior to regular continuous trading hours (9:15 AM to 3:30 PM), the pre-open market session operates between 9:00 AM and 9:15 AM on both NSE and BSE. To place orders, you use your broker’s trading terminal just as you would during normal market hours, selecting the equity security and placing a regular order (CNC or MIS depending on your broker).

However, trading in the pre-open session differs from regular hours because trades are not executed continuously. Instead, orders are accumulated and matched through a single multilateral call auction. Here is how the session unfolds and how you should execute your trades:

1. Order Entry & Modification Phase (9:00 AM – 9:08 AM / 9:10 AM):

  • 9:00 AM to 9:05 AM: You can place, modify, or cancel both Limit orders and Market orders.
  • 9:05 AM to 9:10 AM: To prevent manipulative artificial imbalances, the exchange permits only Limit orders to be placed, altered, or canceled. New market orders are rejected, and existing market orders cannot be modified or canceled.
  • Random Closure: The order entry window concludes with a system-driven random closure between the 8th and 10th minute (between 9:08 AM and 9:10 AM). After this cutoff, no orders can be entered or modified.

2. Order Matching & Price Discovery (9:10 AM* to 9:12 AM):

During this window, the exchange calculates the equilibrium opening price—the single price at which maximum volume can be matched. Orders are executed at this discovered price. All trading access is locked during this phase; attempting to submit or cancel an order will return an exchange error.

3. Buffer Period (9:12 AM to 9:15 AM):

This 3-minute window allows systems to transition smoothly into regular market hours. Unmatched limit orders that remain within daily circuit limits are automatically carried over to the continuous market at 9:15 AM with their price-time priority preserved.

FAQ on 'How to trade in Pre-Open Market session?'

know the answers to most commonly asked questions

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who can trade in pre-open market session?

Anyone with an active trading and demat account can trade in both the NSE and BSE pre-open market session. Retail investors, HNIs, and institutions have equal access. If you find order placement blocked, verify with your broker whether pre-market order routing is active for your account.

 

how to buy shares in pre open session?

Log in to your broker's trading portal between 9:00 AM and 9:08 AM. If placing an order between 9:00 AM and 9:05 AM, you can use either a Limit buy order or a Market buy order. If placing between 9:05 AM and 9:08 AM, you must place a Limit buy order. If the equilibrium opening price is at or below your limit buy price, your order matches at the discovered opening price.

 

how to sell shares in pre open session?

Place a sell order from your holdings or intraday position through your broker's terminal between 9:00 AM and 9:08 AM. Market sell orders are accepted only until 9:05 AM, while Limit sell orders are accepted until the random closure (between 9:08 AM and 9:10 AM). If the discovered opening price is equal to or higher than your sell limit price, your order gets executed at the equilibrium price.

 

can i trade f&o contracts during pre-open market session?

No. The pre-open session in Indian exchanges is exclusive to the equity cash market (eligible scrips) and newly listed IPO/re-listed shares. Equity derivative contracts (Futures and Options) do not have a pre-open session and open directly for continuous trading at 9:15 AM.

 

what happens if my pre-open order does not get matched?

Unmatched limit orders that remain within the regular trading day's price bands are automatically carried over to the normal continuous market starting at 9:15 AM. They retain their time priority and will execute once matching counterpart orders appear in regular market hours. Unmatched market orders that were not filled are shifted to the normal market at the discovered opening price.

 

how is pre market price determined?

The opening price of a security is determined via a multilateral call auction that calculates the equilibrium price. The exchange algorithm evaluates all accumulated orders and picks the price at which the maximum volume of shares will be executed. In case multiple prices yield the same maximum executable volume, the price with the minimum unmatched quantity is selected. If multiple prices still qualify, the price closest to the previous day's closing price (or corporate action adjusted base price) is selected as the equilibrium price. All matched trades execute at this single price. If no trades match during the pre-open session, the first trade executed during normal continuous trading after 9:15 AM establishes the day's open price.