If a limit order is placed at a price far away from the Last Traded Price (LTP), it can be rejected. This is a protection set by the exchange — not a problem with your account.
Why they're rejected
A price that is far from the LTP is often unrealistic — it isn't related to where the stock is actually trading. If such orders were allowed, they could cause freak trades (sudden, abnormal price spikes) and disturb the market's price discovery. To prevent this, orders whose price is beyond a permitted range from the LTP are rejected.
The permitted range
- For stock and index options, a buy order more than 150% above the LTP, or a sell order more than 50% below the LTP, is rejected. (This restriction doesn't apply when the LTP is below ₹100.)
- Equity and futures have their own, tighter execution range set by the exchange.
Separately, an order priced outside the stock's daily price range (circuit limit) is also rejected — see Why do orders get rejected?.
What you can do
- Place the limit price closer to the current LTP, within the permitted range.
- If you want to place an order to act at a price away from the current market, use a GTT order instead — it stays inactive until the market reaches your trigger. See What are GTT orders and how do I place them?.