rollover position query....very imp

Dear traderji members,
I have a question. I just bought my first futures and i had bought 3 contracts that is 4350 shares of india cements at 135 appx. the margin required for each contract was rs 40000. So i put in rs 120000 and bought 3 contracts. now india cements is down 10 rs and i am suffering a loss of 43500. My broker's website says that margin required for india cements now is rs 36000. Sir, my question is, if i want to rollover my position to the next month,

1. Can i rollover all three contracts by paying the difference between oct and november futures and other charges, which will come to abt rs 4000.

2. OR if i sell my oct futures at this current price and suffer the loss, then for the next month i will be able to buy only 2 contracts of the same script instead of 3 contracts i am holding as per the minimum margin requirements set by my brokerage?

Sir please answer my question before the expiry day!

Oct contract will not be traded after the expiry date.
So you will have to see Oct contract and buy back Nov contract .. There might be few Rs of difference on these two contracts.. but that is the price u have to pay to carry it over.

By the way, where is your stoploss on this position which u have bought at 135 Rs. The scrip has already gone down by 10 rs., i.e 8%.. If market goes down, then this will also slip with the market and
your position turn into BRIGHT red from red now..
Hope you know what you are doing. You are playing in leveraged market. Risk management is key to survival here (forget being profit. Survival itself is questionable if risk is not managed correctly).
You collect profit only when your account survives. If you are booking loss now, the yr acct has gone down by 36/120 = 30%. i.e. 70% of original value. Now to come back to original level, i.e. to bring back
to 100 from 70, you need to make 30/70% = 50% return approximately.

Ask the people who have been here and are regular trader.. that how easy /difficult /possible/impossible it is for a novice trader to make 50% ?

Trade carefully. Happy Trading

Suvadipray

Please also be aware that other than the initial margin that you have paid, you have to pay MTM margin for the losses in your position. The loss of 43500 would already be debited to your account. If the price falls further, the losses will be continued to be debited to your account.

Take care.
TT

suvadipray,

Before taking a position in STOCK futures ,first of all
try with Minifty for few months to learn all aspects of
futures trading.
I really appreciate your boldness but please close
your position before exipiry at a reasonable price as
the counter appeared to unhealthy.

Cement sector as such has underperformed, Ultratech's result was below expectation level if not disspointing so please exercise caution while selecting stocks in cement sector. If you are following a news based advice or some recommendation service please be careful. And yes do not put all your money in one stock or for that matter even one sector, diversification is key to the success.