As per Maruti / M&M spread chart. Maruti could outperform M&M from here onwards. A retest of 9 is possible provided 8.20 is not breached.
The pair chart is suggesting Maruti will rally more and fall less than M&M
Pair Spreads are high risk management set ups. They are not to be done in isolation but in sync. Those not affluent with them should refrain.