Appreciate your effort to explain; however, my question is a bit different and let me clarify more on that…
Firstly, I’m talking about equity trades in scrips that trade in FNO segment and not F/O contracts per se.
Now, my question may be more clear by this very crude example:
Lets say XYZ stock is currently trading at 100 and the upper PB currently is 105. Now, I understand that if I try to place order to buy/sell at, say, 107 then it will be rejected, and only when the UPB gets extended beyond 107, my order will go through.
What I’m talking about is the case (that does not happen always but sometimes for sure) is that even when the LTP would become, say, 108, my same order for buy/sell at 107 will still get rejected for the same reason! Now, if LTP is 108, and trades are happening in that scrip, that should mean that UPB has been extended by the exchange and my order should also go through, but it doesn’t. This is what I’m not clear about. Is it that other brokers have allowed the orders before Zerodha or something like that?
Again, most of the times this is not the case, but sometimes I have faced this issue.
Hope my query is clear now.