There could be 2 reasons:
Due to market price protection measures introduced by Exchanges, for some instruments, market orders are sent on the Exchange as limit orders.
In case of illiquid scrips, where the bid-ask spread is extremely high, there are chances that the market order gets executed at a freak price, i.e. at a price far away from the current market price. In order to prevent this kind of an adverse execution, Exchanges have defined a price range which is at a certain percentage above and below the last traded price.
What is a Buyback/Takeover/Delisting?
My order is getting rejected with the following error – ‘Order price is outside the trade execution range. Try placing the order again
My order is getting rejected with the following error – ‘The order was rejected to avoid self trade. Try placing the order again’.
Why was the stop loss executed even though the price did not breach the trigger?