This Bengali Chora is very popular with Bengali kids and children. No particular time to repeat the rhyme, and no perfect meaning for it.
Can we justify in saying 'is this chora full of meaning or nonsense?'
Not the time to ponder over this but let kids learn it and enjoy the simple chora as they repeat it time and again.
Bangla Chora for those who can read Bengali script:
হাট্টিমা টিম টিম