A limit order is a buy or sell order punched on an exchange with a fixed price ,only when the price criteria is met the order goes through and the transaction gets completed. For Eg: If I want to buy 50 shares of Reliance at โน2500 and currently Reliance is trading at โน2505 then my buy order will execute only when the price of stock reaches โน2500 else the order will get cancelled at the end of the day.
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