NIFTY and BANKNIFTY Charts for the Day.
I normally use two time frames. Higher timeframe to find the overall Trend and the Lower timeframe to find an entry. I was using the 60 min as the Higher timeframe. I am switching to 45 min (AVG of 30 and 60).
The Lower timeframe is calculated based on the FOVOLT. For Example for BANKNIFTY the FOVOLT is 40.92%. So I take the 40.92% of 45 minutes which turns out to be 18 mins. My base data is in 3 minutes. So the timeframes are in multiples of 3.
For Example for NIFTYthe FOVOLT is 23.33%. So I take the 23.33% of 45 minutes which turns out to be 9 mins.
NIFTY Higher Timeframe (45 min)
The Trend is on the UP side
NIFTY Lower Timeframe (9 min)
Today SELL was generated at 6096 and BUY was generated at 6057
BANKNIFTY Higher Timeframe (45 min)
Trend is on the UP side
BANKNIFTY Lower Timeframe (18 min)