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Go for CAIPS first know the reason and then apply again for visa. It would be just a silly thing to reapply without knowing the exact reason of refusal. I have seen many guys being refused 3 and 4 times consecutively applying without CAIPS. here was a guy in this forum who applied for the 3rd time after caips and got his visa. below is the link to his profile. read his posts.
http://www.canadavisa.com/canada-immigration-discussion-board/profiles/vimalind-u297674.html
 
This really worries me... guys pls help... I hav GIC .. paid one yr tuition... still have around 3 lakhs in bank...plus parents r there to support.. is tht enough or anythng else is also required?