There appears to be a price below which one can't place an order to buy (for a given scrip). For example, for a scrip of Rs. 100 (hundred), if you place a BUY order for say Rs. 10 (ten), then you would get an error message from the online interface, saying (something like): "The price specified is outside the limits specified by the exchange."
Do you folks know HOW that value is set and, and where do we find that value for a given scrip? Is this by any chance same as the number used for "Circuit Breaker" calculations? Also, is there any limit on the UPPER side of the price that one can quote? Meaning, can one place an order to buy a scrip of Rs. 100 by quoting for Rs. 200? - I can't experiment doing so, what if it allows and gets executed? Thanks in advance.
Do you folks know HOW that value is set and, and where do we find that value for a given scrip? Is this by any chance same as the number used for "Circuit Breaker" calculations? Also, is there any limit on the UPPER side of the price that one can quote? Meaning, can one place an order to buy a scrip of Rs. 100 by quoting for Rs. 200? - I can't experiment doing so, what if it allows and gets executed? Thanks in advance.