It is an instruction given to a broker by an individual to buy/sell securities if the prices fall/rise beyond a certain level. It can help you limit your losses in case the prices move against your trade.

A Limit Order specifies a buying or selling price, and the trade is executed only when the price is met. A Market Order, on the other hand, is executed at the current market price.

(placing order link)

This could have occurred if you attempted to buy at a price higher than the current market value. In this case, the system treats it as a market order and executes it at the current price.

The stock market is moving in milliseconds, you can only see one tick per second; you may miss the price when the stop-loss limit is reached and the trade is executed.

During the pre-open session, all unmatched market orders are carried over to the normal market as limit orders at the equilibrium price with their original timestamp.

Market orders will be carried over at the previous day’s closing price if the opening price is not discovered.

The order has to be executed as soon as it is released in the market in the case of an immediate or cancel the order. It means that the security is bought or sold almost immediately, and if it isn’t, the order is automatically cancelled.

Delivery Order means you bought some stocks and hold them in your Demat account for a period of time.

An intraday order is one that is squared off the same day, the trader buys or sells particular security with the intention of closing the position on the same day.

A limit order is a purchase or sale of a stock at a specific price or better.

A market order is a purchase or sale order to be filled immediately at the current market prices