FAQs:
What is the Futures Heatmap and how can it help me?
The Futures Heatmap is a tool on the Upstox Pro app that helps you visualise real-time price movements in the futures market across various sectors, like Metals, Banks, and Auto. It highlights trends, allowing you to spot bearish or bullish sentiment within specific sectors, so you can make informed trading decisions.
How can I access the Futures Heatmap in Upstox Pro?
To access the Futures Heatmap, open the Upstox Pro app, navigate to the ‘Discover’ section, and select ‘Explore.’ From there, choose ‘Futures Heatmap’ to start viewing sector-wide insights.
Can I view trends specific to certain sectors?
Yes, the Futures Heatmap allows you to filter by sector. Select sectors like Metals, Banks, or Auto to see how specific industries are performing, which is particularly useful if you’re focused on certain segments of the market.
How do I interpret the colors and categories in the Futures Heatmap?
The Futures Heatmap uses colors and symbols to represent market sentiment based on price movement and open interest (OI) changes. Here’s what each scenario signifies:
- Long Build-Up (Long): When the price and open interest (OI) both increase, it suggests an influx of new buying interest, indicating a potential continuation of an uptrend.
- Short Covering (S Cover): When the price rises while OI decreases, this suggests that existing short positions are being closed, driving the price up.
- Short Build-Up (Short): When both the price and OI decrease, it indicates a build-up of new short positions, suggesting a potential downtrend.
- Long Unwinding (L Unwinding): When the price decreases along with OI, it suggests that traders are closing long positions, signaling potential weakness.
How frequently does the Futures Heatmap update?
The Futures Heatmap provides real-time updates. You can refresh it to view the latest data and stay on top of sectoral performance throughout the trading day.
What types of securities are included in the Futures Heatmap?
The Futures Heatmap includes all stocks in the futures segment on Upstox Pro, categorised by sector. This allows you to see trends across major companies and sectors with active futures contracts.
Is there a way to customise the view in the Futures Heatmap?
Yes, you can customise your view by filtering sectors, choosing specific expiry date and toggle between ‘Price’ and OI (Open Interest). This helps tailor the Heatmap to your trading strategy and preferred sectors.