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

    6 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.

Where does money come from and where does it go? The innocent inquisitiveness of children is what makes them most endearing. Help your little ones understand the financial world through simple stories that make learning fun.

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Chapter updates

  • 11. Personal Finance (Part 1) on May 22, 2020

    Ch 15 – Investing in Bonds

    15.1 – Context I understand we concluded the previous chapter by hinting that we would discuss Index funds next. However, I’m taking a bit of a detour to introduce how one can invest in Bonds dire ..

  • 1. शेयर बाजार से परिचय on September 14, 2019

    Ch 5 – आई पी ओ बाजार (IPO Market)- भाग 2

    5.1 संक्षिप्त विवरण पिछले अध्याय में हमने देखा कि एक कंपनी कैसे आइडिया के स्तर ..

  • 11. Personal Finance (Part 1) on July 13, 2020

    Ch 18 – Measuring Mutual fund Returns

    18.1 – Mutual Fund metrics By now, I suppose we understand different types of mutual fund categories and what goes under the hood of each of these funds. While we have not covered the entire gamut o ..

  • 13. Integrated Financial Modelling on September 2, 2021

    Ch 6 – Revenue model

    6.1 – Common sense approach In the previous chapter, we built the Balance Sheet and P&L assumption. Within the P&L assumptions, we dealt with the revenue of the company as well. We did take ..

  • 4. Futures Trading on February 18, 2015

    Ch 9 – The Nifty Futures

    This chapter is a primer on trading Nifty Futures. All that you need to know about Nifty futures is discussed in this chapter including the impact cost, liquidity, and benefits of trading Nifty future ..

Recent comments

  • Maximum kitna share kharid sakte hai ...

    23 Sep 2021
  • Hello Sir, When will you talk about all the financial ratios such as PEG, Enterprise Value, Ebitda to EV etc. Ratios that you have missed talking about in the fundamental analysis chapter. ...

    23 Sep 2021
  • Hello Sir, Does Zerodha connect to Amibroker/ Metastock so I can go about creating an algorithmic trading system? Does Zerodha have different charges for Algo trading as since there are multiple buy/sell in a few minutes even Rs/20 per order be ...

    23 Sep 2021
  • Thank you Karthik. Can you send me the details as how can I avoid delivery in case when it is CTM. I am assuming it will only decided on settlement day if it is CTM or deep ITM. ...

    23 Sep 2021
  • can it considered short buildup or long build up? like what inference can be drawn from such a scenario? recently i came across continuous strikes of which oi has increased but the price change is 0%. ...

    23 Sep 2021

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