http://wiki.nginx.org/NginxCommandLine#Loading_a_New_Configuration_Using_Signals

What you suggested actually kills the server then starts it. It would
be wiser to just reload the config file on the fly, without any
downtime, by sending it signal 15:

kill -HUP `cat /var/run/nginx.pid`

This is on Debian GNU/Linux, YM[and pid location]MV.

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