Trump Media tells shareholders how to block their DJT stock being loaned to short sellers

 Trump Media tells shareholders how to block their DJT stock being loaned to short sellers

 In a Manhattan Court, a Jury Is Picked to Judge a President

Justice Juan M. Merchan warned against identifying the people who might judge Donald J. Trump, who regularly attacks the justice system.

Prosecutors have asked that Donald J. Trump be punished for promoting attacks on the jury system and the court.Credit...Pool photo by Brendan McDermid

At 4:34 p.m. on Thursday, a jury of 12 citizens was selected to determine the fate of an indicted former president for the first time in American history, a moment that could shape the nation’s political and legal landscapes for generations to come.

The dozen New Yorkers will sit in judgment of Donald J. Trump, the 45th president turned criminal defendant, who has been accused of falsifying records to cover up a sex scandal. If the jurors convict Mr. Trump, he could face up to four years in prison, even as he seeks to reclaim the White House as the presumptive Republican nominee.

“We have our jury,” Justice Juan M. Merchan proclaimed as the 12th juror was added.

He then swore the seven men and five women to an oath that they would render a fair and impartial verdict, which they accepted with sober expressions as Mr. Trump stared from the defense table. The jurors could hear opening arguments as soon as Monday.

The selection of the 12 capped a seesaw day in which the judge first excused two people who had been seated earlier in the week, and then hours later replaced them with two new faces and more.

The moment was both routine and never before seen, an act performed every day in courthouses around the country, but never for a former president, a symbol and source of the nation’s political divide.

Mr. Trump, under the Constitution, is entitled to a fair trial by a jury of his peers. And yet he is peerless, a singular force in American politics who was twice impeached and brought democracy to the brink when he refused to accept his election defeat.

Now, just as he bent the political world to his will, Mr. Trump is testing the limits of the American justice system, assailing the integrity of jury and judge alike. His attacks have emboldened his base, and might well resonate more broadly on the campaign trial.

But it will be the 12 men and women of the jury — in Mr. Trump’s hometown — who will first decide his fate, before millions more do so at the polls.

The jury’s makeup and the security of its members will be central to the landmark case. Mr. Trump claims he cannot receive a fair trial in one of the nation’s most Democratic counties, a place where he is deeply unpopular, though some of the jurors who ultimately landed on the panel praised him.

One man said during the selection that he believed the former president had done some good for the country, adding, “it goes both ways.” Another juror, in a possible first for the country, said he didn’t have an opinion on Mr. Trump.

The final 12 were a collection of Manhattanites as eclectic as the city itself. They are Black, Asian, white, male, female, middle-aged and young, including one woman in her first job out of college. They work in finance, education, health care and the law. And they live, among other places, in Harlem, Chelsea, the Upper East Side and Murray Hill.

One alternate was also picked before court adjourned. The judge plans to conclude jury selection on Friday, when the lawyers will select the remaining five alternates.

The long day got off to an inauspicious start as Justice Merchan excused the two jurors, including a woman who had developed concerns about her identity being revealed. That fear, she added, might compromise her fairness and “decision-making in the courtroom,” prompting the judge to excuse her.

The precise reason the judge dismissed the other juror was not clear, but prosecutors had raised concerns about the credibility of answers he had given to questions about himself. Asked outside the courthouse whether he believed he should have been dismissed, the man, who declined to give his name, replied, “Nope.”

The dismissals underscored the intense pressure of serving on this particular panel. Jurors are risking their safety and their privacy to sit in judgment of a former commander in chief who is now their fellow citizen, a heavy responsibility that could unnerve even the most seen-it-all New Yorkers.

During jury selection, prospective members are routinely excused by the dozens. And once a trial formally begins, it is not unheard-of to lose a juror for reasons such as illness or violating a judge’s order not to read about the proceeding. But losing two in one day, before opening arguments even began, was unusual — one of many small ways in which this trial will stand apart.

The ousters appeared to rankle the judge, who has striven to keep the trial on schedule. He said he thought the woman who declined to serve would have “been a very good juror.”

Although the judge has kept prospective jurors’ names private, they disclosed their employers and other identifying information in open court. But Justice Merchan instructed reporters to no longer divulge prospective jurors’ current or past employers, a decision that some media law experts questioned.

Inside a chilly courtroom on Thursday, as lawyers on both sides scrutinized a new round of prospective jurors, Mr. Trump stared intently at the jury box and prodded his lawyers, prompting one, Todd Blanche, to shake his head in response.

Former President Donald Trump speaks during a press conference at 40 Wall Street after a pre-trial hearing at Manhattan criminal court

 Former President Donald Trump speaks during a press conference at 40 Wall Street after a pre-trial hearing at Manhattan criminal court

The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 22,120 level, a discount of nearly 40 points from the Nifty futures’ previous close.

Nifty 50 formed a reasonable positive candle on the daily chart with a minor upper shadow.

The Indian stock market indices, Sensex and Nifty 50, are expected to open lower on Tuesday following mixed global market cues.

The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 22,120 level, a discount of nearly 40 points from the Nifty futures’ previous close.

This is a holiday truncated week and the trading volumes are expected to be lower with limited market cues. However, volatility may remain high as we approach the March F&O expiry and the financial year-end.

On Friday, the domestic equity benchmarks closed higher for the third consecutive session.

The Sensex gained 190.75 points to close at 72,831.94, while the Nifty 50 settled 84.80 points, or 0.39%, higher at 22,096.75.

Nifty 50 formed a reasonable positive candle on the daily chart with a minor upper shadow. 

“The market is facing strong resistance around 22,200 - 22,300 levels and a decisive break above this hurdle could open the next round of sharp upmove in the market. The Nifty on the weekly chart formed a small positive candle with a long lower shadow. The weekly support of the 10-week EMA (Exponential Moving Average) has been regained after the intra-week downside violation at 21,950. This is a positive indication," said Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities.

He believes the short-term trend of Nifty remains positive. A sharp move above the hurdle of 22,200 - 22,300 levels could pull Nifty towards new all time highs around 22,550 levels.

Also Read: Indian stock market: 7 key things that changed for market over weekend - Gift Nifty, geopolitical tensions to oil prices

Here’s what to expect from Nifty 50 and Bank Nifty today:

Nifty OI Data

According to Santosh Meena, Head of Research, Swastika Investmart Ltd, options data shows some improvement, with the put-to-call ratio rising from oversold levels to 1.23. 

“However, foreign institutional investors (FIIs) maintain a high level of short exposure in index futures, currently at 65%. This elevated short positioning suggests there’s still potential for a short-covering rally," Meena said.

Rahul Ghose, CEO, Hedged.in noted that the Bank Nifty index was seen having massive put writing all the way from 46,000 up to the 47,000 strike

The bullish bias in fact is seen right up to the April expiry where April ITM or In the money put writing was seen on Friday. Nifty on the other hand continues to be in a small range as per Open Interest (OI) data with the next move happening only above the 22,300 mark or below the 21,700 mark on the downside," Ghose said.

Nifty 50 Prediction

The Nifty 50 index continued with its follow-through up move on March 22 and closed the day higher by 84 points amidst volatility. 

“Nifty witnessed two days of recovery following a doji formation on the daily chart, indicating a bullish reversal. Moreover, the Nifty has reclaimed the critical 55-day exponential moving average. However, Nifty needs to cross over 22,100 to witness a clear rally towards the all-time high of 22,525," said Rupak De, Senior Technical Analyst, LKP Securities.

On the lower end, 22,950 might remain a strong support for the index. Below this level, the index might enter a consolidation phase, he added.

Bank Nifty Prediction

The Bank Nifty index rose 179 points to settle at 46,864 on March 22.

“The Bank Nifty index saw robust buying from lower levels but struggled to breach the resistance at 47,000. Immediate support lies at 46,600-46,500, and as long as the index holds above this level, the outlook remains bullish. A breakthrough above 47,000 is anticipated to trigger sharp short-covering rallies towards the 48,000 mark," De said.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

 

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