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Nifty Futures is also a financial instrument in which futures contracts are done on the basis of S&P Nifty index which is the benchmark of NSE. Nifty futures are a instrument type of market in which trading is done on the basis of the underlying index S&P CNX NIFTY.

S&P CNX Nifty futures contracts have a maximum of 3-month trading cycle - the near month (1st ), the next month (2nd ) and the far month (3rd ). A new contract is introduced on the trading day following the expiry of the near month contract. The new contract will be introduced for three month duration. This way, at any point in time, there will be 3 contracts available for trading in the market i.e., one near month, one mid month and one far month duration respectively.

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