I take my positions on hourly time frames. I need little clarification on which close to be considered for close. In kite it closes at 10.15 AM and so on while in some technical softwares it consideres 10 AM and so on.
Kindly guide.
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Neeraj, most exchanges in the world open either at :00 or :30 of an hour. India is the only exchange where it start at :15. Most professional charts were made for the international exchanges and not India, hence they are all made to take :00 as starting point. In our case (NSE/BSE) it is :15 as market opens at 9:15 am.
Either methods you use, one candle in the day will not be a 1 hour candle.
If you use the approach of starting at 9:00 AM the first candle is a 45 min candle (since market opens at 9.15 and no data from 9 to 9.15). if you start it at 9.15am like in Kite the last candle of the day, 3.15pm onwards will be 15 mins and hence not 1 hour.
I’d say, you rather have the first candle of the day a proper 1 hour candle, since you are going to keep tracking the market rest of day based on the first candle. If the 1st hour candle itself is a 45 min candle, the rest of the day candle data might seem skewed. Also if the candle were to start at 9:00 AM the first candle of the day would be 45 mins and the last 30 mins. So two candles shorter than 1 hour. In case of starting at 9:15 AM, only the last candle of the day would be shorter than 1 hour.
But this is debatable. 
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Alok, thank you for your response.
Ya my understanding was also the same, however all the professional softwares which provide intra day charts, has 10,11,… as closing hourly time frame. Hence wanted to get a clarification.
#Nitin
I checked NSE TAME, it gives a close by 10, 11, 12,…, Zerodha kite however gives a close by 10.15, 11.15,…
#Nitin
We have to compete with the best algos in the world. And if they are following charts as per international standards, we have to follow the same for better odds. Just for today’s example(21 Aug 2017), Nifty Aug futures took out the Low(9148) of Last hourly candle of Kite. But had I followed the last hour low as the other charts where Last Candle would have been (3:00 - 3:30), the low of 9841 was survived. This is just one example…
So rather than debating, we can have some configurable option so that one can choose accordingly.
@PawanA the real question to ask is if the first hour candle of the day should be 1 hour candle or a 45 min candle. It is 1 hour as per international standards. If we start at 9.00 am instead of 9.15 am, it will technically just be a 45 min candle.
Configurable option isn’t really possible. We will essentially have to replicate the entire historical data base. Let me still find out i f there is any other way out.
Thanks Nithin for a quick reply. I do not think data is stored differently for 15 tf, 30tf, 60 tf or any time frame… data should be stored as per second data form or the smallest unit possible and candles should be generated at the run time depending upon what TF we are looking for and what should be the open and close time.
We store 1 min OHLC and use that data to form the 15m, 30m etc. But 1 hour/daily are stored as a separate OHLC as an optimization to make the historical charting faster.
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Nithin Wow… Never thought that a CEO will know such minute details about the data structures, i think this is what is the primary reason of huge success of Zerodha where the CEO has got his hands dirty in all the areas, be it customer queries, trading and then engineering aspects… Kudos yo you Sir… Long way to go.
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