After the spectacular gains of the last swing up, we have not done much in the BN/Nifty spread as is evident from this chart.
We are in a sideways trend in this spread. Next cues we would get once we Break out / break down from this range.
http://prntscr.com/jljn7zOn the positive side this chart highlights your risk mitigation as inspite of a huge fall in BN the spread has not lost much. So risk is taken care of automatically.
Please do not equate my normal trades with the spread trades.
I may not have made much in BN in the last week or 10 days but my HDFC/SBIN spread made 240 points (1.2 L) in 2 days with an initial risk of 5000 rupees. Had i taken the add also yesterday it would have exceeded 2L.
http://prntscr.com/jljrga