If I have existing NIFTY LONG in MARCH FUTURES, and do not have any CASH HOLDINGS, can I SELL (square off) this and BUY APRIL FUTURES of NIFTY?
Or, I have to call your call center and ask them to ROLLOVER?
Can I buy a FRESH NEW NRML positions in NIFTY LONG (say 1 lot only) whenever I see the opportunity?
SEBI CIRCULAR SAID:
Long positions in index derivatives (long futures, long calls and short
puts) shall not exceed (in notional value) the Mutual Funds’ / FPIs’
holding of cash, government securities, T-Bills and similar instruments.
(iv)The existing positions as on the date of issuance of the circulars by the stock
exchanges / clearing corporations would not be impacted (i.e., the positions
shall be permitted to be held till expiry or close-out, whichever is earlier).
However, if a fresh position is taken, then the entire positions (including the
grandfathered positions) shall be subject to limits mentioned above.