With regards to this calculation in one of your articles:
“100 Nifty Buy at 8000, Sell at 8100, Profit = Rs 10,000
100 Nifty Buy at 8100, Sell at 8050, Loss = Rs 5000
Turnover of Nifty Jan futures = Rs 10,000 + Rs 5000 (absolute sum of the loss) = Rs 15000”
Does m2m settlement affect this? Or is the turnover calculation only done when one exits the position?