Axis Bank rollovers indicate bullish bias - analysts

Reuters Market Eye - Rollovers in Axis Bank's future contracts at 38.4 percent versus the 3-month average of about 30 percent, according to Reuters calculations.

Lender's outstanding futures positions increased by 47.5 percent since October expiry, according to NSE data.

Cost of rollover has risen to 70 basis points indicating aggression of a long roller - Dolat Capital.

"It means people remain bullish on the stock for December series," said Prachi Save, derivatives analyst at Dolat Capital Market Pvt Ltd.

Axis Bank shares down 1.6 percent at 10:56 a.m.

(Reporting by Abhishek Vishnoi)