Market price protection on the Kite order window

Sun, 21 Jun 2026 00:00:00 +0000

Market protection on the Kite order window is a Zerodha feature that fills a market order quickly at the best available price but converts it into a limit order if the price moves outside a set protection range, so a market order cannot fill at a freak price far from the last traded price. A freak trade is an execution at a price far above or below the prevailing market, usually caused by a thin order book or a fat-finger order; market protection caps how far from the current price a market order is allowed to fill.

Price Reasonability Range (PRR) and the execution range

Sun, 21 Jun 2026 00:00:00 +0000

The Price Reasonability Range (PRR), more often called the execution range, is a dynamic band that NSE and BSE set around a contract’s reference price, inside which an order is allowed to match and execute. It exists to prevent freak trades, fills that print far from the prevailing market because a fat-finger order or thin depth let a market order sweep through empty price levels. An order priced or matched outside the range is cancelled rather than executed. It is a market-microstructure control, not a Zerodha rule, and it is distinct from the daily price band .

Limit Price Protection on WebNotes

Market price protection on the Kite order window

Price Reasonability Range (PRR) and the execution range