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I’m getting the error “Price exceeds circuit limit for the instrument. Place an order within the daily range” when I try to place a Stop Loss order at Zerodha, Why is this?

The error “Price exceeds circuit limit for the instrument. Place an order within the daily range” is displayed because you are trying to place a Stop loss order that is higher or lower than the circuit limits set by the exchange. Circuit limits can be checked in the market depth of a stock.

To know more about circuit limits, click here.

As you can see from the error below, The price entered in the order window, i.e. Rs. 240/- is higher than the upper circuit limit set by the exchange, which is Rs 228.60/-, which is why the order was rejected.

The error will be displayed as follows.

To solve this, please place the order within the circuit limits as shown below.

The order was successfully placed since the price entered was within the circuit limits.

We recommend using GTT orders if you wish to enter a position at a particular price in the future. To know more about GTT, please click here.