CONCOR - AXISBANK Pair Analysis

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End-of-day divergence (Standardized residual) is -1.6.
Half life of pair is 15.9.
Real time (live) divergence is calculating using following formula:
[axisbank_price - (0.473 * concor_price) - 3.97]/40.5

(where 3.97 is mean error and 40.5 is standard error)
Technical strength of CONCOR is 6.9. (Support & Resistance)
Technical strength of AXISBANK is 7. (Support & Resistance)
Recommendation
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Entry Criterion: Take positions when divergence becomes (+/-)2.0. And exit positions when divergence becomes (+/-)0.0.
Stop Loss: Put your stop loss when divergence becomes more than 2.5 or less than -2.5. We suggest you always use stop losses.
Note: When you trade in futures, keep in mind the expiry date of futures as divergence might not end before expiry date.
Click here to see all recommendations for pair concor-axisbank.
Analyse any other pair:

How to choose pairs?
Choose stocks from same sector/subsector.
Use stock with large market capitalization as first stock.
Here is a list of pairs chosen analytically.

Charts

CONCOR Futures - NSE
Expiry Date Close Price Open Interest Number of Trades No of Contracts Underlying Closing Price
June 29, 2017 1213.6 1168125.0 1694.0 1788.0 1208.5
Lot size: 625.0.

AXISBANK Futures - NSE

Expiry Date Close Price Open Interest Number of Trades No of Contracts Underlying Closing Price
June 29, 2017 514.05 40206000.0 11049.0 12299.0 511.45
July 27, 2017 511.1 492000.0 173.0 194.0 511.45
August 31, 2017 504.8 2400.0 1.0 2.0 511.45
Lot size: 1200.0.
Click here for backtesting results.

CONCOR-AXISBANK Analysis with different time frames and thresholds

Time Frame 3months, Entry Threshold 1.5, Stop Loss Threshold 2, Total Profit 152052.750882
Time Frame 3months, Entry Threshold 1.5, Stop Loss Threshold 2.5, Total Profit 140625.786667
Time Frame 1month, Entry Threshold 1.5, Stop Loss Threshold 2, Total Profit 113649.430797
Time Frame 6months, Entry Threshold 2, Stop Loss Threshold 2.5, Total Profit 111765.2837
Time Frame 3months, Entry Threshold 2, Stop Loss Threshold 2.5, Total Profit 110484.132669