A Concise Guide for Small Retail Investors that includes introduction to futures market, classification of derivatives, index futures, risk in futures and futures market in India. It presents the hypotheses for the study that has been tested with the help of different statistical tools and the results obtained from analysis are discussed. It highlights the Indian Futures Market opportunities and challenges with the help of PEST (Political, Economic, Social and Technological factors) analysis. The present study’s conclusion, contribution to this field and the implications of the research are first hand guides for retail investors in share trading. It looks into the practical aspects of this investment and makes the investor realize his limitations and cautions him about practical risks against emotional decision making in the market. This is also a practical knowledge bank for share brokers and analysts about how to handle their clients and at the same time indulge in fare and ethical trading.