What is limit order?

What Is Limit Order?

A limit order is an order to buy or sell at a specific price (or better). For a buy limit at Rs 49,00,000, your order fills only when the market price is Rs 49,00,000 or lower. For a sell limit at Rs 51,00,000, it fills when the price is Rs 51,00,000 or higher. You control the price but the order may never fill if the market does not reach your level. Limit orders often get "maker" fees (lower than taker). They are useful when you want to wait for a better price rather than buy or sell immediately.