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

    25 chapters
    Personal finance is an essential aspect of your life because it can help you meet your short term and long term financial goals. This module encompasses the various aspects of personal finance such as investment, insurance, retirement planning, goal-oriented investments, budgeting, etc. that may help you construct an ideal personal finance plan.


  • 12. Innerworth — Mind over markets

    520 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.

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Chapter updates

  • 5. Options Theory for Professional Trading on April 7, 2015

    Ch 4 – Selling/Writing a Call Option

    4.1 – Two sides of the same coin Do you remember the 1975 Bollywood super hit flick ‘Deewaar’, which attained a cult status for the incredibly famous ‘Mere paas maa hai’ dialogue ☺? The mo ..

  • 12. Innerworth — Mind over markets on December 1, 2020

    Ch 520 – The Doubting Trader

    It’s almost impossible to have rock-solid confidence as a trader. Sure, some traders can’t be thrown off track very easily, but it’s natural to feel a little afraid occasionally. Let ..

  • 12. Innerworth — Mind over markets on

    Ch 519 – Discipline in Everyday Life

    The winning trader is a disciplined trader. Disciplined traders devise very detailed trading plans. And they use them. They don’t prematurely abandon trading plans. Once a trade is executed, the ..

  • 12. Innerworth — Mind over markets on

    Ch 518 – Beliefs About Money: A Possible Source of Self-Sabotage

    Do you have trouble following your trading plan? Many novice traders do. They develop a plan with specific guidelines as to when to enter and when to exit. The night before it all seems so clear, what ..

  • 11. Personal Finance 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 ..

Recent comments

  • 879 Raj on Volumes

    How can we identify volume is more on buy side or sell side For ex: some institution buy 100000 hcl shares and another institution sell 200000 hcl shares at price of 845. How to interpret this? There is 100000 difference. Plz explain little c ...

    04 Dec 2020
  • Hello Karthik, First of all thanks to you for this informative article. I had one question, please clarify it Suppose I am selling Nifty Dec 13500 CE with 100 Rs premium at 1,22,000 Rs Margine. but I do not want to wait till the expiry. So If I ...

    04 Dec 2020
  • 1760 Nagendra Kumar Yadav on ITR Forms (The Finale)

    Hi nitin In FY 2019-20: I have short term loss about 96000₹ and intraday profit about 15000₹. Which Itr I have to file? ...

    03 Dec 2020
  • Mene banknifty ka aaj call liya tha usme profit huva he jo Position me dikha rha he but Denman account me money debit nhi huva he.why?????plz tellme now. ...

    03 Dec 2020
  • I sold a share today and received 80% of total selling value balance 20% when will be credited to my account. ...

    03 Dec 2020

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