Percentage change
Market basicsA move expressed relative to the starting price rather than in absolute currency.
In plain terms
The only comparison that transfers between a ₹95 stock and a ₹3,900 one.
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Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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Log scale trendline
Technical analysisA trendline drawn on a logarithmic price axis, where equal vertical distance represents equal percentage change rather than equal rupees.
In plain terms
On a linear chart a multi-year line curves away from price for purely arithmetic reasons. Anything over two years belongs on a log scale, or the line is measuring the axis rather than the trend.
Logarithmic scale
Technical analysisAlso called: Log scale
A price axis where equal vertical distances represent equal percentage changes.
In plain terms
The honest axis for anything spanning years, because a holder cares about percentages rather than rupees.
Modified duration
Market basicsThe approximate percentage change in a bond’s price for a one percentage point change in yield.
In plain terms
It falls as the maturity date approaches, so the same yield move produces a smaller price move every year. A stop set at a multiple of recent range therefore tightens on its own as a bond ages, and an unchanged rule quietly takes a larger position.