yes. Dobre rano literally means good morning. Czech has more common greeting of 'dobry den' though, that literally means 'good day'. Since English does not really use 'good day', the 'good morning' can be translated as both. You do not say 'dobre rano' past 9 a.m. or so usually
You say "Dobrý den." when you meet someone. It's the formal way, you will often hear it when entering a shop, then it's polite to reply saying "Dobrý den" as well. When you leave or end a conversation, you say "Na shledanou."
Maybe you confused it with wishing someone a nice day (pěkný den), which you can also do at the end of a conversation.