Actually I bought 1 lot of Nifty Future July at 9668 on Thursday. And on Friday Nifty opened some points above at 9673.50 and closes at 9668. In Zerodha Kite it is showing zero profit or loss. But next day in contract notes it is showing a loss of 412.5 rs. Why?
LTP and closing prices are not same. kite p&L is on LTP. Check closing prices after 4.00PM
Not asking about LTP. I bought at 9668 on Thursday. Next Nifty closed at 9668. Then why do I have to be at a loss.
Chk contract note that u get in email
Should solve ur mystery
Or paste a Screenshot here after cropping out ur personal info from the screenshot
you should immediately stop trading and need to learn the basic!
you are getting hint so far from Sudesh, Nandha, Som.
Basically what they have been telling you is
- When you get into a position you are paying a brokerage fee
- Then when you get out you are again paying a brokerage fee
- Then India Govt will add the tax on your trade
So when you check your daily acct stmt or your P/L stmt things are very clear
Next day Nifty closed at the same price at which I bought the lot the previous day. I did not yet closed my position. I did not sell the lot yet. I guess brokerage, tax should not come yet.
Ok then your unrealized P/L is 0
How often you check this?
Since Future lots’ profit or loss is calculated on a daily basis. Now understand carefully, on Thursday I bought on lot at 9668. Next day Nifty opened at 9674 and closed at 9668. So in my open positions in kite it shows zero p/l. But the contract notes received by me the next day showing a loss of around 450rs. Notice carefully the exact amount of loss for one lot if I subtract closing price from the opening price. But point to be noted that I did not yet sell the lot. So if please if you can explain.
Its true I am new in the market but I know the basics. Though I am a novice in the future segment.
IN F&O segment or for that matter in any asset class the Market may not open necessarily at the same price exactly at the closing price of previous day! Overnight around the world there may be uncertainty so you see the market may open either high or low(depending upon the events).
Now about contract notes you received, your contract notes should be of previous day after the market is closed. If you have received an intraday contract notes then there is something wrong(you need to check with Zerodha back office guys how that works but Zerodha does a good job in terms of back office).
Futures contracts are mark to marketed on a daily basis based on the closing price of the futures contract. The daily closing price of the futures contract in the last half hour weighted average of that contract. Below is an image from the NSE website stating the same.
On 6 July, you purchased your future at 9668 and the settlement price for the day was 9673.35. A daily MtoM profit of Rs.401.25 would’ve been credited to your account. Confirm with contract note of 6 July.
On 7 July, the previous settlement price which is 9673.35 is considered as your opening price and the settlement price for the day was 9667.50. A daily MtoM loss of Rs.438.75 is debited from your account.
Since daily settlements are carried out on the settlement price, although the LTP of 7 July is 9668 which is the same your purchase price, your account will be in a net loss of Rs.37.50 for this position.
