It will deliver fundamental analysis, technical analysis and an economic calendar, an official statement said.
Offering a quick overview of the company’s financials, Fundamental Widgets aims to ease the trading process by showcasing additional metrics like - valuations, balance sheet details, operating metrics, margins, stock profile, on the platform, which allows traders to effectively utilise their time, while investing. Furthermore, in an effort to refine market analysis and take informed trading decisions, the Technical Analysis Widget, categorizes stocks into Strong Buy/Buy/Neutral/Sell/Strong Sell categories based on the results of 28 different indicators. This feature allows traders to determine the technical strength or weakness of stocks, across different time frames. Ranging from 1 minute charts to 1 month time frame charts, FYERS is offering 8 different time frames for all stocks listed on NSE & BSE. Additionally, features like the Economic Calendar will help traders track market volatility, arising from macroeconomic developments.
In light of the current COVID-19 crisis, deviating from historical trends, for the first time new investors are entering the markets. There is a significant surge in trading and Indian online brokerages are observing a significant increase in their client base and orders. FYERS has observed a 40% increase in its customer base.
Commenting on the launch, Tejas Khoday, Cofounder and CEO, FYERS stated “Lack of macro-economic data is putting our traders at the back foot. Therefore, FYERS introduced TradingView Widgets, to ensure that traders have access to the right information on industries, sectors, market volatility and other metrics, to improve decision making. Therefore, with TradingViews Widgets, we aim to help the trading community with a real time repository of market data, on the same platform, which will offer insights into GDP, Inflation, PMI and more. Furthermore, the widgets will aid traders in reducing the time taken for evaluating their investments.”