Why was my order rejected with the reason "Order Value is greater than Maximum"? What is the quantity freeze limit / maximum order quantity for F&O?
Quantity Freeze Limit is a risk control measure introduced by NSE for the F&O segment. It is the maximum number of contracts (in terms of quantity) that can be bought/ sold in a single order.
For example, the quantity freeze limit for NIFTY futures is 1,800. That is, you cannot buy/sell more than 1800 contracts (quantity) in a single order. With a lot size of 50, this translates to not being able to buy/sell more than 36 lots in a single order. If you place an order above this limit, it will be rejected.
- The limit for equity (NSEFO) and currency (NSECD) orders is capped at Rs. 5 crores per order.
- For index contracts, the order limit is based on the level of the underlying index:
| BANKNIFTY | 900 | 900 / 15 = 60 |
| NIFTY | 1,800 | 1,800 / 25 = 72 |
| FINNIFTY | 1,800 | 1,800 / 40 = 45 |
| MIDCPNIFTY | 2,800 | 2,800 / 75 = 37 |
| NIFTYNXT50 | 600 | 600/10 = 60 |
| Index Level (From) | Index Level (To) | Quantity Freeze Limit |
|---|---|---|
| 0 | 5,750 | 8,500 |
| 5,750 | 8,625 | 5,500 |
| 8,625 | 11,500 | 4,200 |
| 11,500 | 17,250 | 2,800 |
| 17,250 | 27,500 | 1,800 |
| 27,500 | 40,000 | 1,200 |
| 40,000 | 55,000 | 900 |
| 55,000 | above | 600 |
Orders rejected due to the quantity freeze limit will have the following error message (Order Value is greater than Maximum) in the order book on TraderX:
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