Free and open stock market and financial education

Varsity is an extensive and in-depth collection of stock market and financial lessons created by Karthik Rangappa at Zerodha. It is openly accessible to everyone and is one of the largest financial education resources on the web.

Karthik Rangappa heads educational initiatives at Zerodha and has more than a decade of research experience in financial markets. He travels widely conducting educational programmes.


  • 1. Introduction to Stock Markets

    15 chapters
    Investing ensures financial security, and the Stock market plays a pivotal role in this domain, it is a place where people buy/sell shares of publicly listed companies. In this module, you will learn about the fundamentals of the stock market, how to get started, how it functions and the various intermediaries that appertain it.


  • 2. Technical Analysis

    22 chapters
    Technical Analysis (TA) plays an important role in developing a point of view. Like every other research, TA also has its own attributes. In this module, we will discover all those complex attributes of TA, study various patterns, indicators and theories that will help you as a trader to find upright trading opportunities in the market.


  • 3. Fundamental Analysis

    16 chapters
    Fundamental Analysis (FA) is a holistic approach to study a business. If you are an investor that is looking for long term investments this module will help you understand Equity research, help you in reading the financial statements, annual reports, calculation of Financial Ratio, Analysis and most importantly help you in evaluating the intrinsic value of a stock to find long-term investing opportunities.


  • 4. Futures Trading

    13 chapters
    Futures Trading involves trading in contracts in the derivatives markets. This module covers the various intricacies involved in undergoing a futures trade including margins, leverages, pricing, etc


  • 5. Options Theory for Professional Trading

    24 chapters
    An option is a contract where the price of the options is based on an underlying. Options contracts grant the buyer the right to buy the underlying without a compulsory obligation.


  • 6. Option Strategies

    14 chapters
    The module covers various options strategies that can be built with a multi-dimensional approach based on Market trend involving Option Greeks, Risk-Return, etc.


  • 7. Markets and Taxation

    7 chapters
    As a trader in India, you should be informed of all the taxes that are levied on your investments and account. This module overlays the taxation countenance of Investing/Trading in the Markets. It also outlines the various essential topics like calculation of your turnover, how to prepare a balance sheet and the P&L statement, and further about how you can file your Income Tax Returns.


  • 8. Currency, Commodity, and Government Securities

    19 chapters
    This module covers the Currency,  MCX Commodity contract, and the Government Securities (GSec) traded in the Indian Markets.


  • 9. Risk Management & Trading Psychology

    16 chapters
    The module covers the risk management aspect along with the psychology required for being consistent and profitable while trading


  • 10. Trading Systems

    16 chapters
    Have you considered building your own Trading System? Well, then this module is for you. The major components of building a good trading system are input parameters and interpreting output alongside decision-making. In this module, we will learn about all the components and much more including the techniques and different types of Trading Systems.


  • 11. Personal Finance (Part 1)

    30 chapters
    Personal finance is an essential aspect of your financial life as it helps you achieve your short term and long term financial goals. This module encompasses the various aspects of personal finance such as retirement planning, Mutual funds, ETFs, Bonds, and goal-oriented investments.


  • 12. Innerworth — Mind over markets

    603 chapters
    A series of articles on the psychology of trading, that will guide you mend your thought and prepare you psychologically to become a novice trader.

  • 13. Integrated Financial Modelling

    4 chapters

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Chapter updates

  • 3. फंडामेंटल एनालिसिस on September 14, 2019

    Ch 3 – कंपनी की वार्षिक रिपोर्ट (Annual Report) कैसे पढ़ते हैं?

    3.1 – वार्षिक रिपोर्ट (Annual Report) क्या होती है? हर कंपनी साल में एक बार वार्षिक रिपोर ..

  • 13. Integrated Financial Modelling on July 9, 2021

    Ch 4 – Assumptions (Part 1)

    4.1 – Model integrity I want to start this chapter by talking about a super important concept. I may have touched upon this topic earlier, but I would like to discuss it again with snapshots to emph ..

  • 13. Integrated Financial Modelling on June 11, 2021

    Ch 3 – Historical Data

    3.1 – Annual Report recce Picking up from the previous chapter, now that we have our excel sheet set up, we will extract the data from the annual report to our blank excel sheet. The excel sheet at ..

  • 11. पर्सनल फाइनेंस on November 13, 2020

    Ch 13 – डेट फंड (भाग 3)

    13.1 डेट निवेश से जुड़े शब्दजाल/डेट निवेश की वृत्तिभाषा  लॉकडाउन के दौरान कई लो ..

  • 2. Technical Analysis on October 17, 2014

    Ch 13 – Moving Averages

    Moving average is a simple technical analysis indicator used to detect the price trend. Learn about the moving average and a how to set up a simple moving average trading system. ..

Recent comments

  • Sure sir.. will let you know:) ...

    27 Jul 2021
  • 483 Vishwajeet on Gamma (Part 2)

    Hello Mr. Karthik, On May 29, avinash singh also asked same thing, there is something wrong as compared to old chapter & this chapter explination, as in previous chapter negative sign considered in calculation. but in this case section 13. ...

    27 Jul 2021
  • 124 kartik puri on Bear Call Spread

    I can see this strategy is profitable most of the time, but my question is, what if the market starts coming in our direction? Well in that case can we buy 1 more option but below the ITM strike? So say I shorted 1 OTM 35500CE in BNF and against ...

    27 Jul 2021
  • 123 Darshana on Silver

    Please let me know by which date do I have to close my silver mini and gold mini contracts if I don’t want physical delivery Silver M August Gold M Sept ...

    27 Jul 2021
  • 123 Darshana on Silver

    Please let me know by which date do I have to close my silver mini and gold mini contracts if I don’t want physical delivery Silver MAugust Gold M Sept ...

    27 Jul 2021

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