Futures trading kya hai, kaise kaam karta hai, futures vs options — complete Hindi guide Indian derivatives market ke liye.
Published by The Retail Trader · AUG 06, 2026 · Features
Futures trading kya hai, kaise kaam karta hai, futures vs options — complete Hindi guide Indian derivatives market ke liye.
Futures ek derivative contract hai jahan buyer aur seller agree karte hain ki ek specific date pe ek specific price pe ek specific quantity ka asset exchange karenge.
Simple definition: > Futures = Agreement to buy/sell something at a fixed price on a future date. Dono parties ko fulfill karna padega — obligation hai.
Real Example:
• Nifty at 20,000
• Tum Nifty futures BUY karte ho at 20,050 (August expiry)
• Lot size: 25
• Margin required: ~₹1,00,000
Agar Nifty 20,300 ho gaya:
• Profit: (20,300 - 20,050) × 25 = ₹6,250
Agar Nifty 19,800 ho gaya:
• Loss: (20,050 - 19,800) × 25 = ₹6,250
Ye chhe baatein dhyaan mein rakho:
• Obligation — Futures: MUST buy/sell, Options: RIGHT (not obligation)
• Premium — Futures: No premium (margin), Options: Premium pay karta hai
• Max loss — Futures: Unlimited, Options: Premium paid (buyer)
• Settlement — Futures: Daily MTM, Options: At expiry
• Margin — Futures: ~10-15% of contract, Options: Premium only (buyer)
• Best for — Futures: Directional bets, Options: Hedging, limited risk
1. Index Futures:
• Underlying: Nifty 50, Bank Nifty, Nifty IT
• Lot size: Nifty = 25, Bank Nifty = 15
• Expiry: Last Thursday of month
• Settlement: Cash
2. Stock Futures:
• Underlying: Individual stocks (Reliance, TCS, etc.)
• Lot size: Varies by stock
• Expiry: Last Thursday of month
• Settlement: Physical delivery (rare for retail)
3. Currency Futures:
• Underlying: USD/INR, EUR/INR, GBP/INR
• Lot size: $1,000 (USD/INR)
• Expiry: Last working day
4. Commodity Futures:
• Underlying: Gold, Silver, Crude Oil, Natural Gas
• Exchange: MCX
• Lot size: Varies
Futures mein tumhe poora price nahi dena — sirf margin (security deposit):
Ye teen baatein dhyaan mein rakho:
• Nifty 20,000 — Contract Value: ₹5,00,000, Margin Required: ~₹1,00,000 (20%)
• Bank Nifty 45,000 — Contract Value: ₹6,75,000, Margin Required: ~₹1,35,000 (20%)
• Reliance ₹2,500 — Contract Value: ₹2,50,000, Margin Required: ~₹50,000 (20%)
Har din P&L settle hota hai:
• Profit hua → Paisa account mein aata hai
• Loss hua → Paisa account se jaata hai
• Margin kam hua → Margin call aata hai (aur paisa daalo)
Expiry Settlement:
• Cash settled: Index futures (Nifty, Bank Nifty)
• Physical delivery: Stock futures (rare for retail)
• Expiry: Last Thursday of month
Strategy 1: Directional (Long/Short):
• Bullish → Buy futures (long)
• Bearish → Sell futures (short)
• Simple, direct, leveraged bet on direction
Strategy 2: Hedging:
• Portfolio protect karne ke liye
• Long portfolio → Sell Nifty futures
• Loss in portfolio offset by profit in futures
Strategy 3: Spread Trading:
• Buy near-month, sell far-month (calendar spread)
• Profit from time decay difference
• Lower risk than naked futures
Strategy 4: Arbitrage:
• Cash-futures arbitrage
• Price difference exploit karo between spot and futures
• Low risk, requires fast execution
Ye chhe baatein dhyaan mein rakho:
• Leverage — Futures: ✅ 5-10x, Cash (Delivery): ❌ 1x
• Short selling — Futures: ✅ Easy, Cash (Delivery): ⚠️ Limited
• Cost — Futures: Margin + MTM, Cash (Delivery): Full price
• Holding — Futures: Till expiry, Cash (Delivery): Unlimited
• Risk — Futures: Higher (leverage), Cash (Delivery): Lower
• Settlement — Futures: Expiry, Cash (Delivery): T+1
Ye paanch baatein dhyaan mein rakho:
• Max risk per trade — 2% of capital
• Stop loss — Always use
• Position size — 1 lot initially
• Max open positions — 2-3
• Margin utilization — < 50%
Warning: Futures mein leverage = amplified risk. 1% move in underlying = 5-10% impact on capital.
Ye baatein dhyaan mein rakho:
• 📌 FUTURES TRADING QUICK REFERENCE
• WHAT IS IT:
• 📊 Derivative contract to buy/sell at fixed price
• 📊 Obligation (must execute at expiry)
• 📊 Margin-based (10-15% of contract)
• 📊 Daily MTM settlement
• TYPES:
• 📊 Index Futures — Nifty, Bank Nifty
• 📊 Stock Futures — Individual stocks
• 📊 Currency Futures — USD/INR
• 📊 Commodity Futures — Gold, Crude
• MECHANICS:
• 📊 Margin: ~20% of contract value
• 📊 MTM: Daily P&L settlement
• 📊 Expiry: Last Thursday of month
• 📊 Settlement: Cash (index), Physical (stocks)
• STRATEGIES:
• ✅ Directional (long/short)
• ✅ Hedging (portfolio protection)
• ✅ Spread trading (calendar)
• ✅ Arbitrage (cash-futures)
• RISK:
• 💰 Leverage = amplified risk
• 💰 1% move = 5-10% capital impact
• 💰 Max 2% risk per trade
• 💰 Always use stop loss
• 💰 Margin call risk
• REQUIREMENTS:
• 📋 F&O activated demat account
• 📋 Margin money (₹1-2 lakh)
• 📋 Understanding of MTM
• 📋 Risk management discipline
Ye chaar baatein dhyaan mein rakho:
• Options Trading Strategies
• F&O Expiry Kaise Kaam Karta Hai?
• Risk Management Kya Hai?
• Option Greeks Kya Hain?
The Retail Trader — educational market analysis. Not investment advice.
Ye article sirf educational hai — koi buy ya sell recommendation nahi, koi guaranteed return ka daawa nahi, aur koi advisory nahi. Rules, rates aur mechanics exchange, SEBI aur RBI time-time par badalte hain, isliye har number apne broker ya official source par khud verify karo.