Sobha Developers looks more bullish than bearish: Hemen Kapadia

Hemen Kapadia, CEO, .chartpundit.com in a chat with ET Now gives his take on Sobha Developers and midcap realty space.

What is your take on Purvankara or Sobha Developers and even an Orbit Corp on the charts?

Sobha looks good. We have taken a lot of time probably nine months and counting when this moving sideways but the pattern would seem to suggest it seems more bullish than bearish. We are quoting above the 55-week exponential moving average and even the mechanical indicators seem to have a positive bias other than a negative bias. The midcap realty space looks better than the main line and even Mahindra Lifespaces is another stock which stands out amongst the midcap stocks.