palette vs ambit

palette and ambit both are nouns.

Word	Noun	Adjective	Verb	Adverb
palette	Yes	No	No	No
ambit	Yes	No	No	No

As nouns, ambit is a hypernym of palette; that is, ambit is a word with a broader meaning than palette:

palette: the range of colour characteristic of a particular artist or painting or school of art
ambit: an area in which something acts or operates or has power or control:

Other hypernyms of palette include compass, orbit, range, reach, scope.

palette (noun)	ambit (noun)
board that provides a flat surface on which artists mix paints and the range of colors used	an area in which something acts or operates or has power or control:
one of the rounded armor plates at the armpits of a suit of armor
the range of colour characteristic of a particular artist or painting or school of art