Skip to main content
Curriculum
Module Directory
Coming Soon
Tools
About
FAQ
RupeeCase Education Hub · QC Alpha · Tanmay Kurtkoti

Stop guessing.
Start investing
with evidence.

Most retail investors hold an opinion. The ones who compound hold a process. 11 paths. 70 modules. The full curriculum for systematic investing in Indian markets, free.

11
Paths live now
70
Modules published
13
Paths planned
Written by
Tanmay Kurtkoti
Founder & CEO, RupeeCase · QC Alpha
16+ years systematic trading
“I built this because the investing education I needed when I started simply didn’t exist for Indian markets. No US theory rephrased. Just evidence, Indian data, and what actually works.”
Learning streak
0days
Recent wins
Not sure where to start?
I'm completely new I know equities, teach me derivatives I want to build strategies
Pillar guides
Five topic clusters if you prefer themes to paths
Systematic InvestingPaths 2, 3, 5 · 18 modules Indian MarketsPaths 1, 6 · 14 modules Portfolio ConstructionPaths 4, 10 · 11 modules Behaviour + BusinessPaths 8, 9 · 13 modules Macro, Tax, RegulationPaths 7, 11 · 14 modules
Full Curriculum · rupee-case · QC Alpha

Choose your learning path

11 comprehensive paths from market basics to advanced quant methods. All live now. Each path ends with a 30-question test. Pass to earn your certificate.
PATH 01LIVE
Market Foundations
Start here if you have never read OHLC data or never calculated what a trade actually costs you after STT, brokerage, and GST. The plumbing of Indian equity markets, end to end.
5 modules · ~55 min total · Updated 29 Apr 2026
First module: How Indian Stock Markets Work
Beginner5 modules · ~60 min
Start here →
  • Understand how NSE, BSE, SEBI, and depositories work together
  • Read OHLCV data, candlestick charts, and volume patterns
  • Interpret balance sheets, P&L statements, and cash flow
  • Calculate real trading costs including STT, brokerage, and taxes
1.1How Indian Stock Markets Work→ 1.2Understanding Stock Data→ 1.3Indices and Benchmarks→ 1.4Reading Financial Statements→ 1.5Orders, Costs, and Taxation→
PATH 02LIVE
Systematic Investing Fundamentals
The case for rules over gut, with the math. What a factor actually is, which risk metrics matter, and what a backtest can and cannot prove.
5 modules · ~50 min total · Updated 29 Apr 2026
First module: Why Rules Beat Gut Feeling
Intermediate5 modules · ~75 min
Start Path 2 →
  • Understand why systematic strategies outperform discretionary ones
  • Identify the 5 classic factor premia: Value, Momentum, Quality, Size, Low-Vol
  • Calculate Sharpe, Sortino, max drawdown, alpha, and beta
  • Design and critically evaluate a backtest
2.1Why Rules Beat Gut Feeling→ 2.2Introduction to Factors→ 2.3Risk Metrics That Matter→ 2.4How Backtesting Works→ 2.5Building Your First Strategy→
PATH 03LIVE
Factor Investing Deep Dive
Value, Momentum, Quality, Size, Low Volatility. Eight modules of evidence for each factor in Indian markets, plus how to stack them without double-counting.
8 modules · ~88 min total · Updated 29 Apr 2026
First module: The Momentum Factor
Intermediate8 modules · ~120 min
Start Path 3 →
  • Analyse each factor individually: Momentum, Value, Quality, Low-Vol, Size
  • Evaluate Indian-market evidence for every factor premium
  • Construct multi-factor portfolios with signal mixing
  • Understand factor timing, cyclicality, and regime shifts
3.1Momentum Factor Deep Dive→ 3.2Value Factor Deep Dive→ 3.3Quality Factor Deep Dive→ 3.4Low Volatility Factor Deep Dive→ 3.5Size Factor Deep Dive→ 3.6Combining Factors: Multi-Factor Construction→ 3.7Factor Timing and Cycles→ 3.8Factor Investing: India Evidence→
PATH 04LIVE
Portfolio Construction
How to size positions, when to rebalance, how to measure if the portfolio is actually working, and how to keep risk where you intended it.
5 modules · ~55 min total · Updated 29 Apr 2026
First module: Modern Portfolio Theory
Advanced5 modules · ~90 min
Start Path 4 →
  • Build an efficient frontier and understand diversification mathematically
  • Apply equal-weight, inverse-volatility, and Kelly position sizing
  • Design calendar, threshold, and tax-aware rebalancing rules
  • Measure portfolio performance with Sharpe, Sortino, and attribution
4.1Modern Portfolio Theory→ 4.2Position Sizing→ 4.3Rebalancing Strategies→ 4.4Performance Measurement→ 4.5Risk Management→
PATH 05LIVE
Advanced Quant Methods
The hard part. Statistics that hold up, time series done correctly, where ML actually helps, and how to build strategies that survive outside the backtest.
5 modules · ~40 min total · Updated 29 Apr 2026
First module: Statistical Foundations
Expert5 modules · ~120 min
Start Path 5 →
  • Apply distributions, hypothesis testing, and regression to market data
  • Detect stationarity, regime shifts, and ARIMA patterns in time series
  • Use ML for feature engineering while avoiding overfitting
  • Build walk-forward validated strategies that survive out-of-sample
5.1Statistical Foundations→ 5.2Time Series Analysis→ 5.3Machine Learning for Alpha→ 5.4Alternative Data: India→ 5.5Out-of-Sample Strategies→
PATH 06LIVE
Indian Financial Markets: Product Universe
Every product an Indian investor can actually buy. Equity, IPOs, mutual funds, ETFs, derivatives, bonds, REITs, InvITs, gold, international. What each is for and what it costs.
9 modules · ~81 min total · Updated 29 Apr 2026
First module: Equity Shares
Intermediate9 modules · ~140 min
Start Path 6 →
  • Compare every Indian investment product: equities, MFs, ETFs, bonds, REITs
  • Understand IPO book building, grey market premiums, and SEBI listing rules
  • Evaluate derivatives mechanics: F&O margins, settlement, and hedging
  • Build global exposure through international funds and commodities
6.1Equity Shares: Structure, Rights, Corporate Actions→ 6.2IPOs and New Listings→ 6.3Mutual Funds: Structure, Types, Costs→ 6.4ETFs: How They Work→ 6.5Index Funds vs ETFs vs Active→ 6.6Derivatives: Futures and Options→ 6.7Bonds and Fixed Income in India→ 6.8REITs and InvITs→ 6.9Gold, Commodities, and International→
PATH 07LIVE
Macroeconomics for Indian Investors
What moves the index when no single stock is the story. GDP, RBI policy, inflation, FII flows, the Budget, the earnings cycle, the credit cycle, and how to read the regime you are actually in.
8 modules · ~80 min total · Updated 29 Apr 2026
First module: How to Read the Indian Economy
Intermediate8 modules · ~120 min
Start Path 7 →
  • Read and interpret GDP, IIP, PMI, and leading economic indicators
  • Understand RBI rate cycles, CRR/SLR, and monetary transmission
  • Track FII/DII flows and their impact on Indian equities
  • Identify macro regimes and position portfolios accordingly
7.1How to Read the Indian Economy: Key Indicators→ 7.2RBI Monetary Policy and Interest Rates→ 7.3Inflation: Types, Measurement, Investment Impact→ 7.4INR, FII Flows, and Global Linkages→ 7.5Government Budget, Fiscal Policy, Market Impact→ 7.6Corporate Earnings Cycle in India→ 7.7Credit Cycle and NBFC Sector→ 7.8Macro Regime Investing→
PATH 08LIVE
Behavioural Finance and Investor Psychology
The mistakes you will make even after you know better. Loss aversion, herd behaviour, the disposition effect, and how a rules-based process protects you from the worst of them.
6 modules · ~54 min total · Updated 29 Apr 2026
First module: Why Investors Lose
Beginner to Int6 modules · ~90 min
Start Path 8 →
  • Identify loss aversion, prospect theory, and why losses hurt 2x more
  • Recognise anchoring, confirmation bias, and overconfidence in your own decisions
  • Understand herd behaviour and how it drives market bubbles
  • Build checklists and rules-based systems that remove emotional decisions
8.1Why Investors Lose: Introduction to Behavioural Finance→ 8.2Loss Aversion and Prospect Theory→ 8.3Cognitive Biases: Overconfidence, Anchoring, Recency→ 8.4Herd Behaviour and Market Bubbles→ 8.5Disposition Effect and How to Beat It→ 8.6Building Systems That Protect You from Yourself→
PATH 09LIVE
Corporate Finance and Business Analysis
How to read a business the way an analyst does. Moats, revenue quality, earnings quality, capital allocation, leverage, management — and the annual report that tells you which ones are real.
7 modules · ~63 min total · Updated 29 Apr 2026
First module: Competitive Moats
Intermediate7 modules · ~110 min
Start Path 9 →
  • Identify the 4 types of competitive moats and assess their durability
  • Distinguish recurring revenue from one-time gains and detect earnings manipulation
  • Evaluate capital allocation: reinvestment, dividends, buybacks, M&A
  • Build a complete business analysis framework from annual reports
9.1Competitive Moats: Understanding Durable Advantage→ 9.2Revenue Quality and Earnings Quality→ 9.3Capital Allocation: The Most Important Skill→ 9.4Leverage, Debt, and Financial Risk→ 9.5Management Quality: How to Assess It→ 9.6Reading Annual Reports for Investors→ 9.7Putting It Together: Business Analysis Framework→
PATH 10LIVE
Strategy Implementation and Execution
What happens between the signal and the fill. Microstructure, slippage, algo execution in India, live monitoring, paper to real money, and how to scale without breaking the strategy.
6 modules · ~72 min total · Updated 29 Apr 2026
First module: Market Microstructure India
Advanced6 modules · ~95 min
Start Path 10 →
  • Understand NSE order book mechanics, tick sizes, and impact cost
  • Calculate the complete Indian trading cost stack
  • Navigate SEBI algo trading regulations and API execution
  • Master the paper-to-live transition and portfolio rebalancing
10.1How Orders Actually Work: Market Microstructure India→ 10.2The Real Cost of Trading: Slippage & Transaction Costs→ 10.3Systematic Execution in India: APIs, Algos & SEBI Rules→ 10.4Paper Trading to Live: The Hardest Transition→ 10.5Portfolio Monitoring & Rebalancing in Practice→ 10.6Scaling: When Your Strategy Meets Capacity→
PATH 11LIVE
Tax and Regulatory Framework
Equity tax after July 2024, MF/ETF/SGB rules, tax-loss harvesting that actually saves money, SEBI algo regulations, and how to reconcile your AIS without panic in March.
6 modules · ~66 min total · Updated 29 Apr 2026
First module: Equity Taxation After July 2024
Intermediate6 modules · ~90 min
Start Path 11 →
  • Master equity taxation under the July 2024 Budget rules
  • Understand tax treatment for MFs, ETFs, SGBs, bonds, and F&O
  • Implement tax-loss harvesting and reconcile AIS/TIS
  • Build tax-efficient portfolios that maximize after-tax returns
11.1Equity Taxation After July 2024 | The New Rules→ 11.2Tax Treatment: MFs, ETFs, SGBs, Bonds & F&O→ 11.3Tax-Loss Harvesting for Systematic Investors→ 11.4SEBI Regulatory Framework: What Every Investor Must Know→ 11.5AIS, TIS & ITR: Reconciling Your Capital Gains→ 11.6Tax-Efficient Portfolio Construction→
Coming Soon Path 12: Case Studies · Path 13: Mastering the Terminal
Full Module Directory · 70 modules · rupee-case

Every module at a glance

70 modules across 11 paths · ~1,110 min total reading time. Complete all modules in a path and pass the 30-question test to earn your certificate.
PATH 01Market Foundations
5 modules
1.1How Indian Stock Markets Work→ 1.2Understanding Stock Data→ 1.3Indices and Benchmarks→ 1.4Reading Financial Statements→ 1.5Orders, Costs, and Taxation→
PATH 02Systematic Investing Fundamentals
5 modules
2.1Why Rules Beat Gut Feeling→ 2.2Introduction to Factors→ 2.3Risk Metrics That Matter→ 2.4How Backtesting Works→ 2.5Building Your First Strategy→
PATH 03Factor Investing Deep Dive
8 modules
3.1Momentum Factor Deep Dive→ 3.2Value Factor Deep Dive→ 3.3Quality Factor Deep Dive→ 3.4Low Volatility Factor Deep Dive→ 3.5Size Factor Deep Dive→ 3.6Combining Factors: Multi-Factor Construction→ 3.7Factor Timing and Cycles→ 3.8Factor Investing: India Evidence→
PATH 04Portfolio Construction
5 modules
4.1Modern Portfolio Theory→ 4.2Position Sizing→ 4.3Rebalancing Strategies→ 4.4Performance Measurement→ 4.5Risk Management→
PATH 05Advanced Quant Methods
5 modules
5.1Statistical Foundations→ 5.2Time Series Analysis→ 5.3Machine Learning for Alpha→ 5.4Alternative Data: India→ 5.5Out-of-Sample Strategies→
PATH 06Indian Financial Products
9 modules
6.1Equity Shares: Structure, Rights, Corporate Actions→ 6.2IPOs and New Listings→ 6.3Mutual Funds: Structure, Types, Costs→ 6.4ETFs: How They Work→ 6.5Index Funds vs ETFs vs Active→ 6.6Derivatives: Futures and Options→ 6.7Bonds and Fixed Income in India→ 6.8REITs and InvITs→ 6.9Gold, Commodities, and International→
PATH 07Macroeconomics for Indian Investors
8 modules
7.1How to Read the Indian Economy: Key Indicators→ 7.2RBI Monetary Policy and Interest Rates→ 7.3Inflation: Types, Measurement, Investment Impact→ 7.4INR, FII Flows, and Global Linkages→ 7.5Government Budget, Fiscal Policy, Market Impact→ 7.6Corporate Earnings Cycle in India→ 7.7Credit Cycle and NBFC Sector→ 7.8Macro Regime Investing→
PATH 08Behavioural Finance
6 modules
8.1Why Investors Lose: Introduction to Behavioural Finance→ 8.2Loss Aversion and Prospect Theory→ 8.3Cognitive Biases: Overconfidence, Anchoring, Recency→ 8.4Herd Behaviour and Market Bubbles→ 8.5Disposition Effect and How to Beat It→ 8.6Building Systems That Protect You from Yourself→
PATH 09Corporate Finance and Business Analysis
7 modules
9.1Competitive Moats: Understanding Durable Advantage→ 9.2Revenue Quality and Earnings Quality→ 9.3Capital Allocation: The Most Important Skill→ 9.4Leverage, Debt, and Financial Risk→ 9.5Management Quality: How to Assess It→ 9.6Reading Annual Reports for Investors→ 9.7Putting It Together: Business Analysis Framework→
PATH 10Strategy Implementation & Execution
6 modules
10.1How Orders Actually Work: Market Microstructure India→ 10.2The Real Cost of Trading: Slippage & Transaction Costs→ 10.3Systematic Execution in India: APIs, Algos & SEBI Rules→ 10.4Paper Trading to Live: The Hardest Transition→ 10.5Portfolio Monitoring & Rebalancing in Practice→ 10.6Scaling: When Your Strategy Meets Capacity→
PATH 11Tax & Regulatory Framework
6 modules
11.1Equity Taxation After July 2024 | The New Rules→ 11.2Tax Treatment: MFs, ETFs, SGBs, Bonds & F&O→ 11.3Tax-Loss Harvesting for Systematic Investors→ 11.4SEBI Regulatory Framework: What Every Investor Must Know→ 11.5AIS, TIS & ITR: Reconciling Your Capital Gains→ 11.6Tax-Efficient Portfolio Construction→
RupeeCase · QC Alpha · Tanmay Kurtkoti
Put what you learn into practice | on a terminal built for Indian factor investing
Every concept in this curriculum maps directly to a tool in the RupeeCase terminal. Backtest the momentum signal from Path 3. Measure the performance metrics from Path 4. Apply the quality scorecard from Path 9. The education and the platform are built as one system.
Start free on RupeeCase → Or start with Path 1 first ↓
Explore Strategies
4 systematic approaches, fully backtested
The Tanmay Edge Podcast
Daily pre-market analysis in under 10 minutes
Daily Market Briefings
Pre-market F&O positioning, FII/DII flows, GEX levels
Compare Strategies
RupeeCase Nifty vs Nifty ETF, Kotak & SBI midcap funds
Holdings
Every stock in RupeeCase Nifty with research thesis
Rebalance History
RupeeCase Nifty every two weeks | stock additions & exits
Getting Started
4-step onboarding | 15 minutes end to end
Risk Profile Wizard
SEBI-aligned 10-section assessment | free PDF report
In development · 2 paths · ~175 min of content

What’s being written next

Paths 12 to 13 are actively in development. Each will be released fully, all modules at once, when complete.
PATH 12
Case Studies
Real RupeeCase strategies dissected end to end | signals, backtests, live performance
6 modules
PATH 13
Terminal Docs
Complete guide to every RupeeCase feature | backtester, screener, analytics
6 modules
Interactive Calculators · Indian formatting · No sign-up

Financial Planning Tools

10 calculators built for Indian investors. Instant results, Indian number formatting, all free.
01SIP CalculatorMonthly compounding + RupeeCase comparison 02Step-Up SIPAnnual SIP increase for faster wealth creation 03Retirement PlannerCorpus needed, inflation-adjusted, SIP required 04FIRE Calculator25x rule, 3 scenarios, passive income 05Goal PlannerTarget amount, SIP needed, affordability check 06Tax CalculatorLTCG / STCG post-2024 Budget rules 07Expense Ratio ImpactLong-term wealth drag from fund fees 08Lump Sum vs SIPOne-time vs systematic investing 09Inflation EroderPurchasing power decay over time 10Rule of 72Quick doubling time estimate
Open All 10 Calculators →
About · RupeeCase · QC Alpha · rupee-case
Why I’m building this | and why it’s free

Most investing education in India teaches you to pick stocks. Almost none of it teaches you to think systematically | using data, evidence, and repeatable processes. That’s the gap.

Everything here is original content written by Tanmay Kurtkoti. Indian market data, SEBI regulations, NSE/BSE methodology, NISM curriculum, and academic papers throughout. Complete each path and earn a downloadable certificate.

Visit RupeeCase Get Started
100% original content
Written from scratch. Sources: NSE/BSE methodology docs, SEBI circulars, NISM study material, academic papers. Every claim is cited.
Indian market focus
Reliance, Infosys, Nifty 500, SEBI, RBI. Not US-centric theory with Indian labels slapped on.
Builds toward the tool
The curriculum is designed to lead you toward RupeeCase | but each module stands alone. Learn without ever using the terminal if you want.
Frequently Asked Questions

Common questions about the Education Hub

Everything you need to know before you start learning.
Each path ranges from 60 to 140 minutes of reading. Path 1 (Market Foundations) takes roughly 60 minutes, while longer paths like Path 6 (Indian Financial Products) take around 140 minutes. You can complete modules at your own pace | progress is not timed.
Yes, 100% free | no paywall, no trial period, no credit card required. All 11 learning paths (70 modules) are available right now at no cost. The education hub is designed to help Indian investors learn systematic investing, and it will remain free forever.
Not at all. Path 1 (Market Foundations) starts from scratch | what you own when you buy a share, how NSE and BSE work, how to read financial statements. If you already have experience, you can skip ahead to intermediate or advanced paths.
Each module ends with a short quiz to reinforce key concepts. At the end of each path, there is a 30-question path test. You need to pass this test to earn your path certificate. Quizzes can be retaken if you don’t pass on the first attempt.
Complete all modules in a learning path and pass the 30-question path test. Once you pass, you can download a RupeeCase certificate as a PDF. Share it on LinkedIn, X, or wherever you like.
Yes. Every path is self-contained. If you already understand market basics, jump straight to Path 3 (Factor Investing) or Path 5 (Advanced Quant Methods). That said, Path 1 and Path 2 provide the foundational vocabulary used throughout the curriculum.
Yes. Every module is written with Indian market data, SEBI regulations, NSE/BSE methodology, and Indian examples (Reliance, Infosys, Nifty 500, etc.). This is not US-centric theory with Indian labels | it is original content built for Indian investors.
No. You can read every module and take every quiz without creating an account. A RupeeCase account is only needed if you want to use the investing terminal to backtest strategies, screen stocks, or build portfolios based on what you learn.
Explore RupeeCase

Three more places the data lives.

Strategies
16 rules-based ways to invest
5Paisa Focused Alpha 5, Allcap, Multi Asset, RupeeCase Nifty 10 and 12 more. Held in your own demat.
Podcast
The Tanmay Edge, every trading day
Pre-market analysis with graded predictions. Options positioning, FII flows, levels that matter.
Daily
Pre-market, mid-day, EOD notes
Three data pulls a day. Positioning, flows, GEX. RSS feed for your reader.
Explore
See the entire RupeeCase surface
Strategies, learn, podcast, daily, stocks, rebalance and compare in one map.
Newsletter

What's working, what isn't.

Strategy launches, monthly performance notes, and podcast calls that printed. Two or three emails a month. Built for people who actually read them.

By subscribing you agree to our Privacy Policy. RupeeCase is not a SEBI registered Investment Adviser. Nothing in the newsletter is personalised investment advice.

Built on India's regulated market infrastructure
NSE
Order routing
BSE
Backup venue
SEBI
Markets regulator
NISM
Certified author
Privacy Policy Terms of Service Disclaimers Grievance Redressal