Which is better, starting SIP at the top or bottom?

Over the years, SIP (systematic investment plan), a feature offered by mutual funds, has become a household name. With growing interest in it, a few obvious questions come to an investor's mind. This study attempts to address one such commonly asked question about SIPs, backed by long-term data on market indices. It aims to provide readers with a holistic picture so they can make better-informed investment decisions. First, let's accept that it is impossible to consistently predict the exact top or bottom of a market cycle. At best, one can create and follow a valuation checklist whenever one deviates from their strategic asset allocation, which should help investors reduce portfolio-level volatility to some extent while participating in the equity market. But still, let's assume on