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Why is the error 'The difference between the limit price and trigger price for SL orders is over the exchange permissible range' displayed?

The NSE circular for Equity (PDF), F&O (PDF) and Currency Derivative Segment (CDS) (PDF) specifies that if the difference between the trigger price and the limit price in Stop Loss - Limit (SL-L) orders exceeds the allowed limit, they will be rejected for all stock F&O, currency F&O and index F&O contracts. This rule applies to both new orders and modifications made to existing SL-L orders.

The allowed limit for each instrument is calculated using a specific formula that takes into account the trigger price, X% and a minimum absolute range (in ₹) based on the type of instrument. To learn more about the calculation of the permissible range, refer to the above-mentioned circulars.