Thanks for your input guys. This is a awesome forum. People seem to be very helpful
The distance between the magnet and the wireless sensor is 5 mm.
The Display is set on center-right on the handle bar. (Censor is also placed on right of the wheel)
My question is should the side of the magnet that attracts face the censor or it should be the other way round.
I will post pitures soon once i reach home. It think that will give you guys an idea about the alingment.
Thanks again for all your valueable inputs.