What are price bands and freeze quantities?

What Are Price Bands and Freeze Quantities?

Price bands and freeze quantities are exchange-defined controls that help regulate order prices and quantities. Price bands specify the permitted trading price range for a security, while freeze quantities define the maximum quantity allowed in a single order.

Understanding these limits can help you identify why an order may be rejected and how large orders are handled on FYERS.

What are price bands?

  • Daily price limits: Depending on the security, exchanges may apply price bands such as 2%, 5%, 10%, or 20%. Orders placed outside the applicable price range are rejected.
  • F&O securities: Securities available in the Futures & Options (F&O) segment may not have fixed daily price bands in the same manner as other securities.
  • Market-wide circuit breakers: Movements of 10%, 15%, or 20% in benchmark indices such as the NIFTY 50 or SENSEX can trigger market-wide trading halts in accordance with exchange rules.

What is a freeze quantity?

A freeze quantity is the maximum quantity permitted by the exchange in a single order for a particular instrument.

If the quantity entered exceeds the applicable freeze limit, the order cannot be submitted as a single order within that limit.

Exchange freeze quantities for major indices

The current freeze quantities provided for the major indices are:

Sl. No.IndexFreeze Quantity
1NIFTY3,510
2BANKNIFTY1,440
3FINNIFTY3,240
4MIDCPNIFTY5,760
5NIFTYNXT501,125
6NIFTYFPI53,900
7SENSEX1,000
8BANKEX600

Note: Freeze quantities are defined by the respective exchanges and may be revised periodically.

What happens if my order exceeds the freeze quantity?

FYERS supports Order Slicing, which helps split eligible large orders into smaller orders when the entered quantity exceeds the applicable freeze quantity.

For example, if the freeze quantity for an index is 600, an eligible order exceeding 600 can be divided into smaller orders so that each slice remains within the permitted freeze limit.

Order Slicing supports a maximum of 10 sliced orders. If the entered quantity requires more than 10 slices, the order is rejected, and you will need to place the remaining quantity through separate orders.

For more details, refer to What is Order Slicing and how to enable the feature?

What if my order is rejected because of a price band or freeze quantity?

ScenarioSolution
The order price is outside the permitted price bandModify the order price so that it falls within the exchange-defined price range.
The order quantity exceeds the freeze quantityReduce the quantity or use Order Slicing, where applicable, to split the order into quantities within the permitted freeze limit.
The order requires more than 10 slicesPlace the quantity through separate orders, as Order Slicing supports a maximum of 10 slices.
The freeze quantity differs from the value shown aboveFollow the latest limit specified by the respective exchange, as freeze quantities may be revised periodically.

Last updated: 01 Sep 2026