Can I do an intraday trade for an F&O position I have which is in ban period

I have stock which is FnO ban can i do intraday trade in that, i have a buy position, can i sell it and buy it back again.

Yes, if you’re holding a long position, you can sell the contract and buy it back the same day. This is allowed because by buying back, you are re-entering your original position thereby not adding any open interest.

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Can I do Intraday in Equity if security under Ban or even Intraday equity trading is also not allowed for the security which is under Ban?

I need more clarification/ confirmation in this regard. Is it true?

Yes, it’s true.

Let’s take an example:

Say you have 1 lot long in RelCap futures(currently in ban period). You cannot add any new buy positions to this as that would increase open interest, but you can sell out this 1 lot and close your position as this does not increase open interest.

Once you sell the future, it will show as a sell position in your Positions window on Kite. You will be allowed to buy this position back if required and hold this position back in your account, as this does not increase open interest as well.

But once I have sold out my long position in futures, I am out of trade. Haven’t I squared off my position?

And if I m buying the contract back on same day, will that not count as a new trade because I have already squared off my trade earlier.

For example, if a scrip is allowed maximum OI of 100. When OI reach 100 it is banned.

If a trader has a buy position he can sell which will bring OI to 99.
If the same trader take another buy position then OI reach 100 which is allowed. OI above 100+ is not allowed.

Am i correct?

@Vishnu_Venugopal, that’s correct.

Say you are trader A and you have 1 lot long.
Another trader B has 1 lot long as well.
Trader C sold these 2 lots to trader A and trader B and has 2 lots short.

Total number of open contracts(open interest) is 2.

Now you trader A sells your 1 lot back to trader C. Now you have 0 positions.
Trader B has 1 lot long and trader C now has only 1 lot short.

Total number of open contracts is 1.

Now you trader A again buys back your 1 lot back from trader C. Now you have 1 lot long again.
Trader B has 1 lot long and trader C has 2 lots short.

Total number of open contracts is back to 2. Still, OI hasn’t increased.

This image from Varsity should help: