Hi Sampath,
It is not possible to configure multiple entries option for derived from table input parameter type. Please check below documentation (Page121)
http://help.sap.com/hana/SAP_HANA_Modeling_Guide_for_SAP_HANA_Studio_en.pdf
Thats why in your scenarion input parameter is taking only one (first) value from the list of multiple values.
You can achieve this may be by creating a simple view using the same table(ZVAR_RANGE) with all filters and then creating an input paramter of type column in your view using external view as formar view on column 'LOW' with multiple entries configuration enabled.
Such input parameters should be used with expressions which takes multiple values, for ex. in() function or filter with List of Values operator, but not directly in calculated column.
Regards,
Rashmi