The Orchid learning library
Understand the markets.
One chapter at a time.
17 modules. 124 original chapters. Start with the foundations, then study business accounts, valuation, portfolios, derivatives and the bullion research desk.
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Watch, read, practise
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Browse our YouTube lessons by topic, with links to related chapters.
A practical company-research pathway
Understand the business. Follow the cash. Question the price.
New to research? Follow these six modules in order. Each chapter explains the terms, works through a fictional Indian-market situation and gives you a task to try.
Independent Orchid Research lessons, using the subject scope of the supplied NISM Research Analyst workbooks. Original explanations and examples; no affiliation or certification is claimed.
Download your company-research worksheet ↓Advanced learning · Research before execution
Build a process you can test.
Study operating rules, portfolio risk and strategy validation. Then work through five playbooks with explicit triggers, invalidation, sizing and no-trade conditions.
Market foundations
Ownership, exchanges, orders and the risks behind every market price.
Explore module 02Investing essentials
Goals, asset allocation, funds, financial statements and valuation.
Explore module 03Trading and risk
Execution, exposure, journals, expectancy and drawdown arithmetic.
Explore module 04Technical analysis
Trends, candles, support, indicators, volume and responsible testing.
Explore module 05Futures
Contract mechanics, leverage, daily cash flows, basis, hedging and expiry.
Explore module 06Options
Calls, puts, time value, Greeks, volatility, spreads and settlement.
Explore module 07Gold: market structure and portfolio risk
OTC and exchange architecture, forward carry, rupee parity, positioning, volatility and a fully reconciled bullion risk memo.
Explore module 08Silver: physical flows and relative value
Industrial demand, inventory accessibility, curve dislocations, cross-hedging, volatility and a falsifiable silver research book.
Explore module 09Macroeconomics
Inflation, growth, monetary policy, bonds, currency and fiscal data.
Explore module 10Margin rules and funding
Cash-market margins, SPAN, premium funding, collateral and expiry.
Explore module 11Trading playbooks and professional process
Build an operating plan, control portfolio risk, test an edge and study five fully specified trading playbooks.
Explore module 12Research: from a question to a decision
Evidence, market claims, research methods and a clear memo that survives disagreement.
Explore module 13Industries and business economics
Market size, competition, cycles, operating metrics and capital-allocation evidence.
Explore module 14Financial statements and business modelling
Read accounts, reconcile cash, calculate returns and forecast an Indian business from operating drivers.
Explore module 15Corporate actions and your ownership
Follow cash, share counts and claims through distributions, capital raising and reorganisations.
Explore module 16Business valuation and expectations
DCF, multiples, bonds, SOTP and unit economics with matched claims and transparent assumptions.
Explore module 17Returns, portfolios and decision quality
Compounding, beta, risk-adjusted performance, diversification, liquidity and behavioural discipline.
Explore moduleLearn it. Calculate it.
Work through hypothetical exposure, option payoffs, bullion conversions and margin funding with transparent assumptions.
Open the calculators →Keep exploring
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