Some times if the stock close below a certain price, the client Share Margin account will be in margin call, so have to close above the price level.
I think this illegal but it may be difficult to detect. Although in some cases that can be detected, but lack of evidence of prevent the authority from acting on it.
1) There are so many counters
2) Some may be genuine buyer completing the purchase
3) The client may use many different accounts
4) The accounts that the client use may be also actively trading other stocks
5) A lot of efforts and time are needed to catch the client
How to can benefit from this?
From the daily price movement of the stock, you may notice that the particular stock is being marked up at the closing. You can buy before the closing and sell at the closing with one or few bids higher.
Not sure whether this is legal or not. You have to check with your remsier. We are just trading based on public chart analysis and intraday trade. You have no insider information. Based on the chart, the counter also move up in the last minute. Your trading is purely based on chart information, and no fraud involved.
RISKS, LIMITATIONS OR DIFFICULTIES:
Few years ago Bursa has introduced Trading At Last and Pre Closing, so less and less counters are being marked at close.
In order to close the stock price up, one lot of shares (100 shares per lot) may be sufficient. If you que to sell, may end up only 100 shares done which may not be enough to cover your brokerage.
Legality, not sure whether what you are doing is legal
No opinion on this, because not sure this is legal or not. Although we may think this is legal as our trading is purely based on chart analysis, but if authorities say this is illegal, then no pint argue.
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