It is not very clear whether you want to invest 2 to 3 lacs immediately or over a period of seven to eight years.Normally, SIP is the best approach to invest in equity mutual funds over a long period of time.The moment you invest lump sum you become hostage of market timing.I would not advise you to invest lump sum when the sensex is at 21000 but you can certainly invest some amount in lump sum wh