Limit price (or limit order) is an order to buy or sell shares at the specified price or a better price. The better price for a buy order will be the lowest possible whereas, for a sell order, it will be the highest possible.
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ICICI direct.com :: FAQYou need to specify a maximum price for a buy order and a minimum price for a sell order. The order will be executed at the specified price or a lower price for buy orders or a higher price for sell orders.
For example, you placed a limit order to buy a company's share at Rs 100. The order will be executed only if the stocks are placed at Rs 100 or lower.
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