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I’m getting the error “STOP PRICE BEYOND CIRCUIT LIMITS” when i try to place a Stop Loss, Why is this?

STOP PRICE BEYOND CIRCUIT LIMITS

The stop loss has to be placed within the price band [circuit limits] decided by the exchange. Refer this post to know how to figure out the circuit limits for a scrip.

If the Stop Loss order is out of the circuit limits then the order will get rejected and the above error will be displayed.