NSE session times for Market Profile
NSE's normal session runs from 09:15 to 15:30 IST. With 30-minute letters that gives twelve full periods, A to L, and a final 15-minute M period. The initial balance is 09:15 to 10:15, and a closing session follows from 15:30 to 15:40.
The NSE day, start to finish
NSE's equity and index derivatives day has three parts that matter to a profile trader.
The pre-open session from 09:00 collects orders and sets the opening price; normal trading starts at 09:15. The normal session runs to 15:30. A closing session follows from 15:30 to 15:40.
A Market Profile for NIFTY futures normally covers 09:15 to 15:30, the continuous trading that builds the auction.
The letters, A to M
With 30-minute periods the letters fall like this:
A 09:15-09:45, B 09:45-10:15, C 10:15-10:45, D 10:45-11:15, E 11:15-11:45, F 11:45-12:15, G 12:15-12:45, H 12:45-13:15, I 13:15-13:45, J 13:45-14:15, K 14:15-14:45, L 14:45-15:15, and M 15:15-15:30.
M is only fifteen minutes long, so it carries less weight than the others. Keep that in mind when you read the last letters of the day.
Initial balance: 09:15 to 10:15
The initial balance is A plus B: 09:15 to 10:15. It absorbs the reaction to overnight news and to GIFT Nifty, and the opening auction's first discovery.
Because NSE opens after a pre-open auction, the 09:15 price can gap well away from the previous close. The first hour is when the market decides whether that gap is accepted.
Futures, not the index
The NIFTY 50 index itself is a calculated value: it has prices but no traded volume. A footprint chart, a volume profile or delta needs real trades, so order flow for NIFTY is read on the futures contract, such as the current month's NIFTY future.
Market Profile can be drawn on either, because it needs only time at price. AXL Charts draws profiles on the futures and the index, and order flow on the futures.
Questions
What are NSE trading hours?
Pre-open from 09:00, normal trading from 09:15 to 15:30 IST, and a closing session from 15:30 to 15:40.
What are the TPO periods for NIFTY?
A 09:15-09:45 through L 14:45-15:15, with a final 15-minute M period from 15:15 to 15:30.
Why can't I see order flow on the NIFTY 50 index?
The index has no traded volume of its own. Order flow and volume profiles use the NIFTY futures contract, which trades.