How Market Protection works in Punch
Market Protection in Punch sets how far the limit price sits from your trigger, with per-instrument defaults and trade-level overrides.
Written By Archit Sunat
Last updated About 17 hours ago
Market Protection in Punch is the percentage that decides how far the limit price sits from your trigger price on any trigger-based order — standalone trigger, SL leg, or TP leg. You set a default per instrument type (Stocks 1%, Futures 1%, Index Options 5%, Stock Options 5%), and you can override it for a single trade from the order form on mobile or from Global Settings on desktop.
What Market Protection Does in Punch
Every trigger order on Punch fires as a limit order once the trigger price is hit. Market Protection is the cushion that determines the limit:
Buy-side trigger:
limit = trigger × (1 + protection%)Sell-side trigger:
limit = trigger × (1 − protection%)
A higher % improves fill probability but allows more price drift. A lower % reduces drift but increases the chance of an unfilled trigger.
Previously this % was fixed and hidden (5% for options, 1% for equity and futures). It is now visible and adjustable.
Setting Your Default Market Protection % in Punch
The default applies to every trigger order for that instrument type — standalone, SL, and TP alike. You configure it once per instrument type.
On Punch Desktop
Open Punch Desktop.
Click the Settings icon in the left toolbar.
In the Settings popup, switch to the Market Protection pill.
Pick a value from the dropdown for each instrument type — 0.5%, 1%, 2%, 3%, 5%, or Custom.
Click APPLY to save.
On Punch (Android)
Open Punch.
Go to Settings → Market Protection.
Configure protection % for each of the four instrument types.
Tap Reset to defaults to restore all four to system defaults in one tap.
Adjusting Market Protection % for a Single Trade on Punch
You can override the default on the order form without changing your saved settings.
On Punch (Android or desktop) — trade-level override
Open the order form and switch to Trigger Order.
Tap the Trigger Price row. The Market Protection pills expand below.
Pick a pill — 0.5%, 1%, 2%, 3%, 5%, or Custom.
The computed limit price updates instantly.
The override applies only to this order. The next order reverts to your global setting.
Custom Market Protection % in Punch
When you tap or click Custom:
The input field pre-populates with your current active value for that instrument type. If your active value is 0.3%, Custom opens at 0.3 so you can nudge it from there.
Range: 0.1% to 10%, in 0.1% steps, to 1 decimal place.
Use + and − to step; long-press to accelerate.
Uniform Protection on OCO (SL + TP) in Punch
When you set Stoploss and Take Profit together on an existing position (the Protection form), the same protection % applies to both legs of that OCO.
One Market Protection line is shown in the Protection form — not one per leg.
The % is pulled from your global setting for the position's instrument type.
SL and TP produce different limit prices because their trigger prices and directions differ, but they use the same %.
There is no per-leg override and no inline pill selector in the Protection form.
Dragging SL or TP Lines on the Chart
When you drag an SL or TP line on the chart:
The trigger price updates to the new position.
The protection % stays unchanged.
The limit price recalculates from the new trigger and existing %.
The Protection form reflects the updated values in real time.
Limit Price Calculation and Rounding in Punch
Tick size rounding — limit price is rounded to the nearest 0.05, except equities which use a tick size of 0.01.
NSE/BSE price bands — if the computed limit falls outside the exchange's permissible range, Punch shows an inline warning and caps the limit at the exchange maximum.
Real time — the limit updates instantly when the trigger price or protection % changes.
NSE/BSE Permissible Ranges for Equity and Futures
For SL-Limit orders in the cash and futures segments, the exchange caps how far the limit can be from the trigger.
Because of these caps, equity and futures default pills are 0.2%, 0.5%, 1%, 1.5%, 2%, and inputs above 3% are not permitted for these instrument types
Q&A
Is Market Protection the same as a stoploss?
No. Market Protection is the % gap between your trigger price and the limit price that gets sent to the exchange when the trigger fires. Your stoploss is the trigger itself; Market Protection makes sure the limit is far enough from the trigger to actually fill.
What happens to my protection % if I modify a pending trigger order?
Punch does not show or let you modify the protection % on the modify-order screen. If you change the trigger price, the limit recalculates using the % implied by the original limit-vs-trigger difference on that order. This avoids your saved settings drifting because of tick-size rounding on low-priced orders.
Why are my equity pills different from my options pills?
Equity and futures orders are subject to NSE/BSE permissible-range caps (₹1.50 absolute for prices ≤ ₹50, 3% above ₹50). The equity pill list is tuned to that range — 0.2%, 0.5%, 1%, 1.5%, 2% — and Punch does not allow inputs above 3% for these instruments. Index Options and Stock Options use the standard 0.5%, 1%, 2%, 3%, 5% list with up to 10% allowed.
Does my trade-level override change my saved setting?
No. On the Android order form, picking a different pill or custom value applies only to that one order. The next order goes back to your global setting. To change the default permanently, go to Settings → Market Protection.
Do SL and TP legs in an OCO bracket use different protection percentages?
No. A single protection % applies to both legs of an OCO. The computed limit prices differ because SL and TP have different trigger prices and directions, but the % is the same.
Where does the protection % go when I'm on the modify screen?
Punch hides the Market Protection control on the modify-order screen. The limit recalculates from the existing trigger-to-limit difference when you change the trigger price. This prevents tick-size rounding from silently changing your saved % preference.
Things to Keep in Mind
Minimum protection % — 0.1%. Zero is not allowed.
Maximum protection % — 10% in general; 3% cap for equity and futures because of exchange permissible-range rules.
Pill list is per instrument type — your Futures pills and Index Options pills are tracked separately.
Settings persist across sessions, devices, and reloads. If you have never configured Market Protection, system defaults apply (1% stocks/futures, 5% index options/stock options).
Drag SL/TP on chart — moves the trigger price only. Protection % stays the same and the limit recalculates.
Modify order screen — Protection % is hidden and cannot be changed there.