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 F&O (WEB) and Currency Derivative Segment (CDS) (WEB) 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 NSE circular (WEB).