Markets may take a breather this week after the 12% rally in the last 2 weeks. The level of 10,400 on the Nifty could prove to be a resistance for the markets. Hence, long side traders may need to be a tad cautious this week at higher levels.

· Use higher levels to exit IOCL, NMDC and Vodafone after the phenomenal returns in last one month. Trades can buy SBI at Rs.188 for target of Rs.230 in 1 month.

· On Friday, Havells was recommended at Rs.547 for targets of Rs.620. If you missed out that trading idea, you can look to add that on Monday.

· It is time to play agri theme with monsoons on time. Traders can buy Rallis at Rs.234 for targets of Rs.270 in a month. Traders can also buy UPL for target of Rs.500 in a quarter.

As a new week commences, long traders could face resistance around the 10,400 levels of the Nifty. Look to trade accordingly.