Would it be efficient to analyze the 4-hour charts in Indian equity segment for trading signals?
Since the trading hours in NSE equity are from 9:15 am to 3:30 pm, the candlesticks alternate between 4-hour (9:15 am to 1:15 pm) to an approx 2-hour (1:15 pm to 3:30 pm) timeframe. It isn’t a continuous series of activity snapshots every four hours. So, does use of 4-hour charts be of good use in equity segment for positional/swing trades?
Even with 1-hour charts, every 7th candlestick would only be a 15-minute activity snapshot (3:15 pm to 3:30 pm), how should one account for this in technical analysis?