Equity · India · Underpitch

Equity, explained from zero to advanced.

Understand what equity is, how cash and derivatives work, how investors study companies and charts, what taxes and charges apply in India, and how SEBI protects market integrity — with premium explanation images throughout.

Open IIFL Demat & Trading Account →View all explanation images

The first button uses the IIFL referral link supplied by Underpitch.

Clickable learning paths

Choose what you want to understand

The equity section is built as a learning hub, not a tip sheet. Each card opens a detailed guide with examples, risks, plain-English definitions and visual explainers.

Start here

Equity basics

Ownership, cash market vs derivatives, risk, compounding, bonus, split and how to invest through IIFL.

Open guide →Business quality

Fundamental analysis

Understand the business, management, industry, financial performance, valuation, moats and risks.

Open guide →Financial statements

Balance sheet

Assets, liabilities, equity, working capital, debt, ratios, red flags and a simple reading method.

Open guide →Price behaviour

Technical analysis

Price, trend, candlesticks, support/resistance, volume, indicators and risk control.

Open guide →Visual setups

Common chart patterns

Triangles, head & shoulders, double top/bottom, flag, pennant, cup & handle and confirmation.

Open guide →Tools & setups

Indicators & strategies

Moving averages, RSI, MACD, Bollinger Bands, VWAP, breakouts, pullbacks, mean reversion and risk.

Open guide →Market frameworks

Major technical theories

Dow, Elliott 1-2-3-4-5 + A-B-C, Wyckoff, trend, volume, support/resistance and mean reversion.

Open guide →India tax

Taxation & charges

STCG, LTCG, intraday, F&O, dividends, current STT, losses and filing concepts with examples.

Open guide →Plain English

Key market terms

P/E, market cap, EPS, dividend yield, beta, alpha, gamma, bonus, split, liquidity and volume.

Open guide →Regulator

Role of SEBI

What SEBI regulates, investor protection, registered intermediaries, surveillance, disclosures and complaints.

Open guide →All visuals

Explanation image library

Every premium equity explanation image created in this project, organized in one clickable gallery.

Open guide →

How to invest through IIFL

From account opening to your first delivery share

A Demat account stores securities, while a trading account is used to place exchange orders. Derivatives are a separate, higher-risk segment.

Open & complete KYC

Use the Underpitch IIFL reference link, complete PAN/Aadhaar and bank/KYC steps, add nominee details and verify the account.

Choose the segment

Cash/delivery is the simplest starting point. F&O activation may require additional declarations or income proof and should be used only after understanding leverage, margin and expiry.

Research before the order

Study the business, valuation and risks. Select the stock, exchange and order type, review quantity and charges, then place the order. Delivery shares settle into your Demat account.

Open Demat Account with IIFL →

Core distinction

Cash market vs derivatives

Both trade on exchanges, but the economic exposure and risk are very different.

Feature	Cash / delivery shares	Futures	Options
What you hold	Actual shares in Demat after settlement	A time-bound derivative contract	A right/obligation contract based on an underlying
Expiry	No expiry for the share	Yes	Yes
Leverage	Usually lower when fully paid	High because only margin is posted	Option buyer pays premium; option seller posts margin and may have very large risk
Main use	Ownership, investing, trading	Trading, hedging, arbitrage	Trading, hedging, defined-risk structures for buyers
Risk	Share can fall substantially	Rapid marked-to-market losses possible	Buyer can lose full premium; seller losses can be very large and some structures theoretically unlimited