IBULHSGFIN, Fail to enter year long band

IBULHSGFIN on 28th Nov gave closing very close to lower end of its year long wedge or channel. On 29th Nov, it started with good momentum and entered the wedge but failed to provide closing and fell more than 25% intraday to close below long term band.
More downside should continue for stock. It can be good positional pick if it closes within its channel (highlighted in pick).
Although don't trust this stock for any mid to long term view.