What is the difference between circuit limit and execution range?

I placed an order in NIFTY 10200 CE, within the price bands, but it got rejected saying 17070: The Price is out of the current execution range? What is the difference between circuit limit and execution range?

Market orders that cannot be matched with a limit order in the execution range get rejected with the above rejection reason. The execution range for futures and options differ and can the details are provided in this Support article.

NSE has two types of price limits set in the system.

a.Execution Range - All F&O contracts will have a live reference price and market orders will only get executed if there are orders within this range.

b. Circuit Limits - These limits are set on all F&O contracts and stocks to ensure no manipulation in prices. When the circuit limits are hit, it alerts NSE and NSE have to manually relax these limits.

Unlike the execution range, the circuit limits are static unless the upper or the lower circuit limit is hit. The difference is explained in this Support article.

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