Quoting from an old blog
http://lalitlk-lalit-lk.blogspot.in/2014/12/nifty-index-time-frame-75-minutes.html
" Market in India is from 9:15 AM to 15:30 hours (3:30 PM) and of 375 Minutes duration. As such, a TF of 3 minutes cover a day with 125 candles, TF of 5 minutes covers 2 days, TF of 15 minutes cover 6 days & TF of 75 minutes cover in 30 days - all with 150 candles.
Traditionally, Daily chart of around 30 weeks is of /around 150 candles. Fractal of daily chart is taken/accepted of being hourly, However, in my opinion , the hourly chart is asymmetrical in nature ; 1st candle depicted as 9:00 is based on 3 candles of TF 15, & 7th candle depicted as 15:00 is based on 3 candles of TF 15. Balance 5 candles (10:00 to 14:00 inclusive) are based on 4 candles of TF 15. Best option for fractal is no doubt a TF of 75 minutes".
http://lalitlk-lalit-lk.blogspot.in/2014/12/nifty-index-time-frame-75-minutes.html
" Market in India is from 9:15 AM to 15:30 hours (3:30 PM) and of 375 Minutes duration. As such, a TF of 3 minutes cover a day with 125 candles, TF of 5 minutes covers 2 days, TF of 15 minutes cover 6 days & TF of 75 minutes cover in 30 days - all with 150 candles.
Traditionally, Daily chart of around 30 weeks is of /around 150 candles. Fractal of daily chart is taken/accepted of being hourly, However, in my opinion , the hourly chart is asymmetrical in nature ; 1st candle depicted as 9:00 is based on 3 candles of TF 15, & 7th candle depicted as 15:00 is based on 3 candles of TF 15. Balance 5 candles (10:00 to 14:00 inclusive) are based on 4 candles of TF 15. Best option for fractal is no doubt a TF of 75 minutes".
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