Sure will if the cocking lever is closed but it will do no harm as the transfer port is also closed and the air has no place to go, so it really is not a dry fire like there is no pellet in the chamber. Of course it is hard on the sealing O ring on the loading port and that O ring could by damaged by firing the rifle with the port open. If it happens by accident no harm no foul but don't make a habit of it.
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