For market orders the limit price is set beyond circuit limits. Whats the use of an AUTO setting if it cannot set the price taking into account this very basic thing. If you expect the API users to set the market protection value other than AUTO, by taking into account the circuit price, then again "what the use of AUTO"?
Setting the limit price automatically is the only benefit of market orders (with protection). Otherwise they become completely useless and API users should all switch over to using only limit orders.
The AUTO(-1) setting in market protection is designed to apply a buffer around the last traded price (LTP). Exchange-defined constraints like circuit limits, however, operate independently as execution boundaries.
In certain scenarios, these may not always align perfectly. As a workaround, you may consider checking the applicable circuit limits before placing the order and setting an appropriate market protection value (between 0 and 100) accordingly, so the effective price remains within the allowed range.
We appreciate your feedback on making AUTO more context-aware, and this is something we’re planning to enhance going forward.
In certain scenarios, these may not always align perfectly. As a workaround, you may consider checking the applicable circuit limits before placing the order and setting an appropriate market protection value (between 0 and 100) accordingly, so the effective price remains within the allowed range.
We appreciate your feedback on making AUTO more context-aware, and this is something we’re planning to enhance going forward.