There is a rollover going on, with clear intention of long positions building in next series by big guys, but nifty is in premium and so cost of carry is high( next month fut is in premium with current month fut. ) so road ahead is bumpy, there will be major attempts from big guys to press nifty on lower levels by selling in equity segment so they rollover there position on lower value .. this happened n number of times b4 xpiry, so be careful.
On chart, nifty is weak, macd line going downwards , rsi made a low and moving along with down TL, parabolic sar is getting steeper as mentioned yesterday. bIG WHITE CANDLE made few days back, is come in to picture, the low of it 4040 will act as support, resistance around 4300.