The disclosed quantity entered while placing a buy/sell order is the quantity made public in the market depth or pending order list for the selected share. It is a facility wherein you can decide on the quantity of a buy/sell you want to disclose to the public.
Example:
Suppose you are placing a large order of 1 lakh shares. If this number is disclosed to the public, the sellers may increase the price or stop selling all together. If you place this order with disclosed quantity as just 1000, the sellers may not over-react. While your order quantity remains the same as 1 lakh shares, the sellers won't know about this as the market depth only showing 1000 shares. After the first order of 1000 shares is executed, another 1000 share order is shown in the market depth. The process continues until the full order is executed.
Note:
In NSE, the Disclosed Quantity should not be less than 10% of the Order Quantity
In BSE, the Disclosed Quantity should not be less than either 10% of the Order Quantity or 1000 whichever is lower.
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