monitoring vs observance

monitoring and observance both are nouns.

Word	Noun	Adjective	Verb	Adverb
monitoring	Yes	No	No	No
observance	Yes	No	No	No

As nouns, observance is a hypernym of monitoring; that is, observance is a word with a broader meaning than monitoring:

monitoring: the act of observing something (and sometimes keeping a record of it)
observance: the act of observing; taking a patient look

Other hypernyms of monitoring include observation, watching.

monitoring (noun)	observance (noun)
the act of observing something (and sometimes keeping a record of it)	the act of observing; taking a patient look
	conformity with law or custom or practice etc.
	the act of noticing or paying attention
	a formal event performed on a special occasion