Dear experts – I have a basic query which goes as below:
Supoose today Sensex is down by 300 points and I want to make a lumpsum investment of say Rs 10000 in HDFC Top 200 considering I will get units at a cheaper rate due to market being down. Now I login to my moneysights account and place a purchase order for Rs1000 for HDFC Top 200 at say 1 PM when market is still down 300 points.
First of all, is my assumption correct that I will get units at a lower price whenever market is down?
Secondly, what is the best time in day, if at all ( during or after market hours ) to place this purchase order?
How do I make sure that I get the units allocated to me at lower rate as market was down on the day I placed the order?
Kindly advice.
Regards,
Anurag