What do I need to be cautious about while placing an AMO order?

While placing an AMO order, it is advisable to place a limit order at a price closer to the previous day's closing price, instead of a market order.

This will protect you from buying at a price too high or selling at a price too low. Since market orders are executed at the best available counter price, placing a limit order also helps to avoid the possibility of a freak rate trade that occasionally takes place during market opening.

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