1. Determine your financial GOAL [ex.retirement, marriage, car, home dwnpymnt, child's edu, etc etc].
2. Put a time frame to it [5 years, 10 years or more].
3. More time for your goal = more equity exposure.
4. Choose a good [5 star rated] mutual fund. Use valueresearchonline.com for this list.
5. SIP = sooner the better.
and finally,
stick to just 1 Scheme for each goal of yours. Too much is not necessarily too good.
all the best.