How to close future position?

Please somebody help me with this query. If I have an open buy position on xyz future, and I currently dont want to close it, and have a view in the next few hours its going to fall, I want to open a sell future position while keeping the old long position as it is ?

Will selling a new contact close out my initial long ? If yes then how do i undergo this 2 trades separately ?

You can consider selling “next month” contract !!

Based on the scenario you have told, I think you could also consider below,

  1. Since, the buy position seems like you want to carry it for a longer term or atleast a few days, you can buy with type “NRML” and hold it as long as you wish.

  2. For the sell position, since you mentioned for a few hours, i am guessing it is as an intraday trade.
    So you can use type “MIS” for this. But, please note these trades are squared off automatically at end of the day at specific times. Please look into that before taking the trade.

Say for commodity trading which goes onto 11;30pm and have taken long position which aint going as thought (intraday position) and now want to take short position for few hours again intrady while keeping the original long still open
Is this possible?

Hello Everyone,
I had a query regarding Future pricing on the Chart on Zerodha Kite and I noticed on 9th September 2017 The Reliance future price opened at 823 From 1650 the previous day ? And Same happened with Yesbank futures it fell from 1880 to 327 On 21st September. What’s the deal here? If someone would have had an NRML buy position on yesbank on 20th September at 1880 he would have surely been bankrupted the next day or am I missing something here?


I think this was because of stock splits. Reliance had a stock split, where if you had 1 share of reliance, then you would get 1 extra share .
So, if you bought 1 share at 1650 before 9th September , then you would’ve had 2 shares at RS. 823 after the split.

Same with yes bank, but I think in that if you had 1 share at 1880 before the split, then after the split , you would’ve had 5 shares at around 377.