Market Depth Market Depth (Order Book)

Market depth (also called the order book or Level 2 data) displays the queue of unexecuted limit orders on both sides of the market — the top five (or twenty) bid prices with quantities waiting to buy, and the top five (or twenty) ask prices with quantities waiting to sell. A deep order book with large quantities at tight bid-ask spreads indicates high liquidity, meaning large trades can be executed with minimal price impact. Indian retail platforms like Zerodha Kite show a five-level depth for free; twenty-level depth is available on NSE for a fee.

Market depth (जिसे order book या Level 2 data भी कहते हैं) बाज़ार के दोनों तरफ़ unexecuted limit orders की queue दिखाता है — top five (या twenty) bid prices पर ख़रीदने के लिए waiting quantities, और top five (या twenty) ask prices पर बेचने के लिए waiting quantities। जिस order book में tight bid-ask spread के साथ बड़ी quantities हों, वह high liquidity दर्शाता है — यानी बड़े orders execute हो सकते हैं बिना कीमत को ज़्यादा हिलाए। Zerodha Kite जैसे Indian retail platforms free में five-level depth दिखाते हैं; NSE पर fee देकर twenty-level depth भी मिलती है।