Coal India stock price has shown a nice rise of 6.39% today with good volumes. The price was trading in a falling channel, the price broke above the ABCD pattern's resistance level. This is a break-out level.
The price is currently at a rejection point from where the massive fall in price had occurred in the past. It is important for the price to sustain above this level to continue the rally.
The supply zone has been spotted on the chart, which might be a hurdle in the future. Better book profits from the supply zone.