Simultaneously Reading Two Analog Inputs with Arduino

AKJ:
keep reading the values, save them in arrays and then compare both values of the arrays of the same index.

That is what I will do

TomGeorge:
You need to know the exact location of the spindle as it measures, 32 teeth which gives 64 clock pulses would be good.
64 because you use rising edge as one clock pulse and falling as another.

Yes, I am using attachinterrupts for Rising only (will try for falling as well, but later)
To know the exact location of the spindle, I have another (incremental) encoder synced with only 1 teeth (or hook, this teeth is not one of those 32) in the whole rotation.
What I am doing is using 2 interrupts, one Rising for incremental encoder, and another Rising for Position Encoder (32 teeth). I am taking the readings on every rise of position encoder (total 32 readings per rotation) and store them in an Array, which later can be compared as @AKJ suggested.
I will also post the code when it is ready.

Thank You for all your help...