WIPRO - BANKBARODA Pair Analysis

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End-of-day divergence (Standardized residual) is -2.04.
Half life of pair is 31.2.
Real time (live) divergence is calculating using following formula:
[bankbaroda_price - (0.624 * wipro_price) - 1.83]/23.9

(where 1.83 is mean error and 23.9 is standard error)
Technical strength of WIPRO is 7. (Support & Resistance)
Technical strength of BANKBARODA is 2.1. (Support & Resistance)
Recommendation
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Entry Criterion: Take positions when divergence becomes (+/-)2.5. And exit positions when divergence becomes (+/-)0.0.
Stop Loss: Put your stop loss when divergence becomes more than 3.0 or less than -3.0. 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 wipro-bankbaroda.
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

WIPRO Futures - NSE
Expiry Date Close Price Open Interest Number of Trades No of Contracts Underlying Closing Price
October 26, 2017 295.2 33777600.0 5217.0 5805.0 294.75
November 30, 2017 296.05 3643200.0 600.0 789.0 294.75
Lot size: 2400.0.

BANKBARODA Futures - NSE

Expiry Date Close Price Open Interest Number of Trades No of Contracts Underlying Closing Price
October 26, 2017 137.1 57648500.0 4824.0 5397.0 136.7
November 30, 2017 137.8 3349500.0 845.0 965.0 136.7
December 28, 2017 139.2 24500.0 2.0 2.0 136.7
Lot size: 3500.0.
Click here for backtesting results.

WIPRO-BANKBARODA Analysis with different time frames and thresholds

Time Frame 1year, Entry Threshold 2, Stop Loss Threshold 3, Total Profit 101530.14155
Time Frame 1year, Entry Threshold 2, Stop Loss Threshold 2.5, Total Profit 92396.2987136
Time Frame 6months, Entry Threshold 1.5, Stop Loss Threshold 2.5, Total Profit 85045.5648805
Time Frame 6months, Entry Threshold 1.5, Stop Loss Threshold 2, Total Profit 83115.6369045
Time Frame 6months, Entry Threshold 2, Stop Loss Threshold 3, Total Profit 81808.8093454