Is there any minimum limit to be set in disclosed quantity while placing Disclosed Quantity order?

Yes. Atleast 10% should be disclosed. ex: If you are buying 1000 shares, you have to disclose 100.

I was always under the impression its 20%?

25 % of the quantity in MCX-SX Equity and NSE BSE it is 10 % of the quantity.

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Yes minimum should be 10% of the quantity in NSE and BSE .

In MCX and MCX-SX 25% of the quantity, also note disclosed quantity does not apply for F&O segments.

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Disclosed Quantity is a type of order which allows you to disclose only a part of the order quantity to the market. For example, you may want to buy 10000 shares of Reliance but you don’t want to shake up the market with your big quantity buy order, so you disclose only 1000. The trading system will display only 1000 as the buy quantity to market participants until your entire quantity is bought.

Different exchanges have different disclosed quantities:

NSE/BSE (Equity) = Disclosed quantity cannot be less than 10% of your order.

MCX-SX (Equity) = Disclosed quantity cannot be less than 25% of your order.

NSE/MCX (CDS) = Disclosed quantity cannot be less than 10% of your order.

NSE/BSE/MCX-SX (F&O) = There is no disclosed quantity option. You can place multiple orders if you want to buy/sell huge quantity without shaking up the market.

MCX (Commodity) = Disclosed quantity cannot be less than 25% of your order.

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What if the disclosed quantity for 10 shares is 10000?