Very interesting question to ask somebody else to define your risk/reward ratio.
Well, for a conservative investor it would be 0% exposure to equities and for a very aggressive one it would be upto 70% exposure to equity.
The thumb rule is to have 4 months of expenses in a liquid fund, another 2 months of expenses in a FD, have enough term and health insurance. then define your debt:Equity ratio, lets say mine is 50:50.
Out of the 50% exposure to equities, I allocate 60% to large cap and 40% to mid cap.
of the large cap, 40% to large cap and 20% to large and midcap (DSPBR top 100 vs HDFC Top 200).
Similarly, of the 40% midcap; equal parts to mid cap and small caps.
hope this helps.