If you do not square off your position on the expiry day, the position will be closed out automatically at the last 30 minutes VWAP (Volume Weighted Average Price) on the Expiry.
E.g If you have a Nov Nifty Long position @3700, if you do not square off the position on or before 30 Nov (Expiry Date), on 30 Nov the position will be closed out at last 30 minutes VWAP (Volume Weighted Average Price) of the underlying Nifty (S&P CNX NIfty Spot), assuming that the VWAP on 30 Nov was 3750, on your position of Nov Nifty @ 3700 your accoubnt will be Credited with Rs 5000 i.e. (3750-3700)*100(Nifty Contract size)
Note: Above example does not account for Brokerage and other Charges.
E.g If you have a Nov Nifty Long position @3700, if you do not square off the position on or before 30 Nov (Expiry Date), on 30 Nov the position will be closed out at last 30 minutes VWAP (Volume Weighted Average Price) of the underlying Nifty (S&P CNX NIfty Spot), assuming that the VWAP on 30 Nov was 3750, on your position of Nov Nifty @ 3700 your accoubnt will be Credited with Rs 5000 i.e. (3750-3700)*100(Nifty Contract size)
Note: Above example does not account for Brokerage and other Charges.