Why is the order getting rejected with the following reason “Reason for rejection: 16448”?

As per the new circular received from the exchange “Circular Ref. No: 54/2023” – Pre-Trade risk controls Validation for Stop Loss Limit Order Entry: The exchange has a robust risk management framework and continuously reviews and implements various pre-trade risk control measures to ensure orderly trading, effective risk management, and price discovery. In the current state of market maturity/development and to create a conducive environment for all market participants, reviews, and enhancements are required to optimize and strengthen the pre-trade risk control measures to prevent aberrant orders.
Instruments Trigger price X% Minimum absolute Range (Rs.)
 FUTIDX and FUTSTK <=50   1.5
>50 3%
OPTIDX and OPTSTK <=50   10
>50 20%
  • The aforementioned validation shall be applicable for SL-Limit order modification requests as well.
  • The following error code shall be generated on the rejection of order entry/order modification request: 16448 – The difference between the limit price and trigger price is beyond the permissible range.
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