A circular knitting machine includes a needle-holding cylinder having plurality of longitudinal grooves housing plurality of needles, at least one yarn feed operatively associated to needles, actuating cams arranged around and movable relative to cylinder, drive chain for each needle operatively placed between needle and actuating cams. Drive chain includes: sub-needle, selector having butt which can be engaged with selector paths, selecting device acting, punch equipped with butt which can be engaged with punch paths. Punch paths include a tuck stitch ascent and drop stitch ascent for each yarn feed. Inlet of drop stitch ascent circumferentially precedes inlet of tuck stitch ascent. Selector paths include a single track defining first and second ascents placed in succession for each yarn feed. First ascent circumferentially precedes second and is operatively associated to drop stitch ascent and second ascent is operatively associated to tuck stitch ascent.