This is with reference to the circular date :- October 28, 2022 
Circular URL  :-

The exchange has a robust risk management framework and continuously reviews and implements various pre trade risk control measures for ensuring orderly trading, effective risk management and price discovery. To further strengthen the pre-trade risk control measures for preventing aberrant orders and to ensure orderly trading, the Exchange shall put in place the following mechanism of Limit Price Protection (LPP). 

The LPP range on both the side of reference price shall be computed as follows:

Instruments Reference Price (in Rs)Absolute% of Reference Price
OPTIDX<=50    + / -20
   + / - 40%

Any incoming Limit order placed beyond LPP range shall automatically be rejected by the Exchange as below: A. Buy order price > High LPP limit 

B. Sell order price < Low LPP limit

The LPP validation shall also be applicable for the order modification requests. Order modification request having price beyond LPP limit.

Following message shall be displayed on the respective trading terminal on rejection of the order on account of LPP validation. Order price is beyond LPP limit.

For the SL-Limit orders, aforesaid validation shall be applicable post trigger of the order while releasing in the RL book, considering prevailing LPP limits. Hence, members are requested to note the same while placing SL-Limit orders.