Due to the complexity of Pair trading; set stop loss is at -20K in the setup.
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This is a pair trading system. This is backed by Money Flow theory on Sectors as well.
MRF went up 1.2% last month. Balkrishna Industries went up 5.1% last month.
Now, this has to get balanced to some extent being in the same industry.
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The index is harshly up and can mean reverse anytime as well. In that case, Balkrishna will fall more than MRF. In case, it goes up beyond the statue of liberty, MRF will go up than Balkrishna.
keep it up , I follow your ideas and they are nice