Midcap Nifty Trading Journal: Record MIDCPNIFTY Trades

A Midcap Nifty trading journal should record the exact MIDCPNIFTY contract and the prices and units you actually traded. Add the planned entry, exit reason and charges so the review can separate price movement from execution mistakes. MIDCPNIFTY refers to Nifty Midcap Select derivatives; a journal entry for a broad midcap fund or a midcap stock is a different record.

Replace the old Monday-expiry assumption

NSE ended MIDCPNIFTY weekly options after the final weekly expiry on 18 November 2024. The current NSE product specification lists monthly contracts expiring on the last Tuesday, with expiry moved to the previous trading day if that Tuesday is a holiday.

NSE/FAOP/68747, dated 25 June 2025, sets the Tuesday transition for newly generated contracts expiring from September 2025 onward. An old Monday tag should not be copied into a new entry. Keep historical entries faithful to their own traded contracts rather than updating them to a later rule.

What MIDCPNIFTY tracks

MIDCPNIFTY is the symbol for derivatives on the Nifty Midcap Select index. NSE describes the index as a portfolio of 25 liquid midcap stocks. They are drawn from the Nifty Midcap 150 and chosen by availability in the F&O segment, market capitalisation and average daily turnover. Weights follow free-float market capitalisation, meaning only shares available to the public count. The index has a base date of 3 October 2005 and a base value of 1000, and it is reconstituted twice a year, in March and September.

Because the index holds only 25 stocks, a few large members can drive much of its move. In the March 2026 factsheet, financial services was about 33.6% of the index. Check the latest factsheet on the NSE indices site for the current weights, since the September rebalance can change them.

Capture what the market quote cannot tell you

• State the entry condition before the trade, including whether it depends on an index level or the option premium.
• Record intended and executed prices separately in your notes when they differ. The executed price is the price at which your quantity traded.
• For a partial fill, keep the quantity that traded; an unexecuted balance is not a position.
• Write the actual reason for exit and any change to the planned stop, quantity or target.

Do not assume this index always has wider spreads or higher volatility than another index. If execution is your review question, record the quote you observed and the price you received. Without that evidence, a losing trade cannot be attributed to liquidity or manipulation. The options record guide helps distinguish contract details from assumptions.

Lot size and rupee value of a point

Quantity decides how much each premium point is worth. NSE’s revised lot for MIDCPNIFTY is 120 units, as stated in the table above, while the Nifty lot in our repository file is 65 units. So a move of one point in an option’s price changes the value of one lot by ₹120 for MIDCPNIFTY and ₹65 for Nifty. A ₹10 move in premium is therefore ₹1,200 on one MIDCPNIFTY lot and ₹650 on one Nifty lot.

Lot sizes are revised from time to time, so keep the quantity that applied on the trade date in each old entry. Do not pre-fill the quantity from the lot size in your own notes either, since the number you actually traded is the one that counts. Our lot size and expiry calendar and guide to F&O lot sizes explain the rule.

Worked example: a short option closed before expiry

Fictional trade: sell an option at ₹90 and buy it back at ₹75 for an assumed 120 units. Assume total charges of ₹110. The inputs illustrate bookkeeping and are not current prices, a lot-size confirmation or a recommendation to sell options.

• Premium captured per unit = ₹90 − ₹75 = ₹15.
• Gross profit = ₹15 × 120 = ₹1,800.
• Net profit = ₹1,800 − ₹110 = ₹1,690.

This is the realised result for a closed short-option trade. It is not the maximum risk of keeping the option open. The entry should also retain the strike, expiry and any protective option bought with it. If it was part of a spread (a combination of bought and sold options), include every contract before judging the combined result.

Worked example: a bought call that wins, and a short option that loses

The first example above showed a gain on a short option. Here are two more made-up trades with the same 120 units, so you can see how the sign and the charges change the result. The premiums are not quotes.

Bought call: buy at ₹60 and sell at ₹85. Premium paid is ₹60 × 120 = ₹7,200. Sale proceeds are ₹85 × 120 = ₹10,200. Gross profit is ₹3,000. STT on the sale is 0.15% of ₹10,200, which is ₹15.30.

Short option that moved against you: sell at ₹90 and buy back at ₹130. The premium received is ₹90 × 120 = ₹10,800 and the buyback costs ₹130 × 120 = ₹15,600. Gross loss is ₹4,800. STT on the opening sale is 0.15% of ₹10,800, which is ₹16.20, charged even though the trade lost money.

Brokerage, exchange fees, stamp duty and GST would reduce the first result and add to the second. Put your estimate in the journal first and replace it with the contract-note total when you have it.

Compare records with the same question

Review similar setups over the same period, then read the notes behind unusual wins and losses. A larger rupee result can come from more units rather than better decisions. Keep changes in quantity visible and compare net results after costs.

If you also trade financial-sector derivatives, keep a distinct FinNifty record. Use the lot-size reference as a companion to contract checks, and follow the journal review routine to turn a repeated mistake into something observable.

In OneTradeJournal, trades are entered by hand. Strategy names, emotion notes, mistakes and plan deviations supply the context for your reports. The app estimates per-trade charges; compare billed amounts with your broker records before treating them as exact. It cannot determine which index will be profitable for you.

A monthly review for monthly-only contracts

With weekly contracts gone, MIDCPNIFTY has fewer expiry dates a year, so a month is a natural review period. Read the month’s entries together and look for repeated patterns.

1. How many days did you hold each position, and how did decay affect it?
2. Did you close before expiry or let the option expire?
3. Were your fills close to your planned price, or did wide spreads cost you?
4. How many of your losses came from breaking your own plan?
5. What did total charges take out of gross profit?

Read our guides on expiry-day trading and weekly expiry for the wider calendar. OneTradeJournal shows your win rate, profit factor and drawdown for the trades you enter, with strategy and time analysis alongside.

Common mistakes in a Midcap Nifty journal

• Copying an old Monday expiry into a new entry.
• Using the Nifty lot of 65 units for a MIDCPNIFTY trade.
• Recording the index level as if it were the option’s price.
• Mixing futures and options in one result line.
• Skipping charges because the option premium looks small.

Midcap Nifty journal FAQ

Sources

• NSE: MIDCPNIFTY specifications (checked 15 October 2026).
• NSE: NSE/FAOP/64506: weekly contract withdrawal (checked 15 October 2026).
• NSE: NSE/FAOP/70616: market-lot revision (checked 15 October 2026).
• NSE: NSE/FAOP/68747: Tuesday expiry transition (checked 15 October 2026).