# Manage intraday futures positions before NSE closing auction 2026-10-03T18:41:16+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet The closing auction session (CAS) introduced by NSE in August 2026 changes how intraday futures positions should be handled. From 3.15 pm onwards, NSE switches from a dynamic price band to a static 3 per cent band for futures contracts. Brokers typically square off intraday positions between 3.15 pm and 3.26 pm, which can lead to execution risk if traders have not closed positions manually. Before 3.15 pm, NSE applies a 10 per cent price band on the previous day's close, which can be flexed by 5 per cent in the direction of the price if liquidity conditions are met. Traders who wish to convert an intraday position to an overnight one should do so before 3.15 pm. The SPAN margin requirement is the same for intraday and overnight positions, making it optimal to set up futures trades as positional trades from the start. ## Indian Opinion Analysis The new CAS framework adds a layer of complexity that most retail traders may not fully track. The shift to a static 3 per cent band in the last 15 minutes of trading sharply reduces the room for price discovery just when brokers are auto-closing positions. Traders who wait too long risk getting filled at unfavourable prices or missing the exit entirely. Since margin requirements are identical for intraday and overnight positions, there is no cost penalty for treating a trade as positional from the start. The safest approach is to enter as an overnight position, which preserves the flexibility to close intraday or hold until the next session without depending on the CAS window. ## Coverage - thehindubusinessline.com Explanatory guide on NSE rule changes, no political or ideological slant This brief was synthesised by AI from the source linked above. Tags: Closing Auction Session, futures, intraday trading, NSE, SPAN margin Canonical: https://indianopinion.org/manage-intraday-futures-positions-before-nse-closing-auction/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/manage-intraday-futures-positions-before-nse-closing-auction/#story-in-brief How this brief was made: an AI model read the report linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/