Nifty got its much needed small correction to 4350 in last week and once again bounced back above crucial resistance of 4480 to close at 4528.Of course,strength in dow had much role to play in nifty staging a smart recovery and shorts were really forced to cover and some fresh buying was observed too in the end and even FIIs turned net buyers after selling for most of last week.

              As i see,markets should stay rangebound in a range of 4450- 4680 in next week with bullish undertone.The real action recently has been in small and midcaps with some even gaing 50-100%recently and this should continue this month too.Noticable gainers were ENIL, Purvankara and Indiabulls reality.For next week,PBA,Pratibha,Bluebird should continue to gain.Spicejet can be a good bet too but for large caps,one can continue to book profits as most of the news is already in price and september should see nifty again testing 4350 sooner rather than later.Wishing happy trading to all.