Hi Manoj,
As a regular nifty intraday trader & scalper, I have been utilising this 1:30 to 2:00 time zone as one of the three time periods where one can expect good, sustained directional movement in price.
Since your backtest period is from 16Dec08 to 9Mar09, I wanted to make you aware of this system of time arrangement followed by most of the Western Countries called as "Day Light Saving".
In this arrangement, clocks are advanced by one hour in Spring to make the most of seasonal daylight. At the beginning of winter, they are adjusted back again by one hour.
European countries adjust their clock one hour forward from last Sunday of the March and adjust it back from last Sunday of October.
So, from 29-Mar-09, EU markets will open from 12:30pm IST instead of the current 1:30pm IST
In CAC or DAC (EU countries' indices) charts, you will notice the same phenomenon when Dow Jones Spot start to trade, while in our early morning, it's the HangSang which tries to create a sort of commanding power over the already opened Asian countries.
US adjusts its day light saving time from second Sunday of March. Thus, w.e.f. 8-Mar-09, Dow opens at 7:00pm IST instead of around 8pm IST.
Awareness of these time periods come handy many times during intraday trades - their effect may mean a lot to intraday players.
For us, from 30-Mar-09 (first trading day after 29-Mar), we will have HangSang + EU FUTs opening at 12pm IST, while EU Cash market will open at 12:30pm IST
As a regular nifty intraday trader & scalper, I have been utilising this 1:30 to 2:00 time zone as one of the three time periods where one can expect good, sustained directional movement in price.
Since your backtest period is from 16Dec08 to 9Mar09, I wanted to make you aware of this system of time arrangement followed by most of the Western Countries called as "Day Light Saving".
In this arrangement, clocks are advanced by one hour in Spring to make the most of seasonal daylight. At the beginning of winter, they are adjusted back again by one hour.
European countries adjust their clock one hour forward from last Sunday of the March and adjust it back from last Sunday of October.
So, from 29-Mar-09, EU markets will open from 12:30pm IST instead of the current 1:30pm IST
In CAC or DAC (EU countries' indices) charts, you will notice the same phenomenon when Dow Jones Spot start to trade, while in our early morning, it's the HangSang which tries to create a sort of commanding power over the already opened Asian countries.
US adjusts its day light saving time from second Sunday of March. Thus, w.e.f. 8-Mar-09, Dow opens at 7:00pm IST instead of around 8pm IST.
Awareness of these time periods come handy many times during intraday trades - their effect may mean a lot to intraday players.
For us, from 30-Mar-09 (first trading day after 29-Mar), we will have HangSang + EU FUTs opening at 12pm IST, while EU Cash market will open at 12:30pm IST
Thanks for the excellent inputs :thumb:
Regards
PK