Futures & Options (F&O) contracts of a stock enter a ban period when the total market open interest crosses 95% of the Market-Wide Position Limit (MWPL) set by the exchange.
  The ban is lifted only after the total open interest drops below 80% of the MWPL.

 What It Means for Traders

• No new positions can be created in that stock’s F&O contracts while the ban is active.
• You may square off or reduce your existing open positions.
• Trading in the cash/spot segment continues as usual—these limits do not apply to cash trades.
• Index F&O contracts (like Nifty or Bank Nifty) are not subject to MWPL bans.

For more details, refer to NSE’s Position Limits guidelines.