Market Order	Limit Order
A market order is executed immediately, at the current market price.	A limit order is executed only at a price specified by you.
Ex: You see a stock trading at Rs 51 (this is the last traded price). You place a market order. Your market order is immediately executed at the current market price whether it is lower or higher than Rs 51.	Ex: Let’s say you want to buy a stock at Rs 50. You should place a limit order at Rs 50. Only if the price falls to Rs 50, is your order executed.
Market orders are good when you want to buy a stock for the long term and a few ticks in the price don’t matter.	Limit orders are good for the traders who want to lock into a stock at a specific price especially in volatile conditions.

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Difference between Market Order and Limit Order