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

    3 chapters

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Finance made easy for kids

A box set of 5 books introducing 5 financial concepts to children. Brought to you by Varsity @ Zerodha.

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Chapter updates

  • 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 ..

  • 6. ऑप्शन स्ट्रैटेजी on February 7, 2020

    Ch 4 – कॉल रेश्यो बैक स्प्रेड

    4.1 – भूमिका कॉल रेश्यो बैक स्प्रेड एक बहुत ही रोचक ऑप्शन स्ट्रेटजी है। मैं इस ..

  • 6. ऑप्शन स्ट्रैटेजी on

    Ch 5 – बेयर कॉल लैडर

    5.1 – भूमिका बेयर कॉल लैडर के नाम में बेयर शब्द का इस्तेमाल होने का मतलब यह नहीं ..

  • 13. Integrated Financial Modelling on May 27, 2021

    Ch 2 – Excel workbook setup

    2.1 – Selecting a company I never expected such a tremendously positive response for the previous chapter. I’m a bit overwhelmed, and I also get a sense that there are many expectations from this ..

  • 13. Integrated Financial Modelling on May 17, 2021

    Ch 1 – Introduction to Financial Modelling

    1.1 – Unusual approach We are all living in a very uncertain and unprecedented time. Covid 2nd wave has been brutally devastating and has caused a lot of pain and misery to humanity. I hope you ..

Recent comments

  • If I am short on Nifty50 and I buy 75 lots,what is the profit I make if Nifty50 falls by 100 points? Is it 75×100=75000? ...

    12 Jun 2021
  • 2080 ramkrishna shanbhag on Selling/Writing a Call Option

    Hi Karthik, If i sell cal option 15950 @ 30 rupees premium, when it was trading at 15800. Now, market starts to bull nifty starts to trade above 15800 and premium of 15950 starts to increase to 40 rupees. Now if i want to square off what is my P ...

    12 Jun 2021
  • 1109 Darshan Balakrishna on Moving Averages

    Karthik , How to plot difference between 2 Moving averages as an histogram? ...

    12 Jun 2021
  • How to search for high volatile stocks which are in squeeze and with relative volume is above the avg volume in the zerodha app ...

    12 Jun 2021
  • 933 Deepak Kumar on Open Interest

    To get a clearer insight into the concept, could you please add a chapter to explain the interplay of volume and OI with respect to price change. Clearly, volume and OI data doesn't convey much except maybe indication to liquidity. But in and of ...

    12 Jun 2021

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