One of my dearest friend said that current rally in the stock market is not the right point of entry to start investing in Mutual funds or in equity. However I have different opinion, if one is looking for long-term investment, any time when one has money, is right to start investing. If you are wary of right time of entering a volatile market I suggest you start your investment through  Systematic Investment Plan (SIP) in a good Mutual fund suggested by your financial Planner ( or do your own research) and stay invested in it for a fairly long period. Since SIPs are great in reaping the benefits of rupee cost averaging, in whichever direction Market moves you always gets the benefit of market timing done by fund managers. Remember any Investment is like a Mango tree which gives fruit only when you keep watering it, secure it from adverse situations and keep patience to see it grow. Consistency and discipline is key to get success while investing. Are you a first time investor? Read more to know why you should invest in Equity and how  to start your investment journey: here are some points to remember when you starts investing for the very first time:

• Investment are for two types of goals, Short term goals and Long term goals
• Your short-term goals are going to arise relatively early so you have to be sure of availability of funds, i.e. you take less risk in short-term investments
• the best way to make sure the availability of funds is to park them in liquid mutual funds or in a Bank RD/Fixed Deposits where they are easily converted into cash and will earn a fixed rate of return. hence you get a safe return on your investment in short-term. its better than keeping them in your bank account where they will be at risk of being spent by you.
• For your long-term goals if you are willing to take risk (as high risk will always give you high return) you should invest in Equity (i.e. share markets, Equity Mutual funds). Historically Equity has beat almost every other mode of investment in giving great returns.
• Over a thirty-year period equity in India has delivered a 16% annualised return multiplying an investment more than 100 times.  This is the best performance amongst all investment options, beating Gold (17 times), FDs (18 times) and Silver (21 times). The point to note is that the number is 16% and not 50% or 100% per annum. however this return vary in short-term (1-5 years)
• If you want to beat inflation in long-term and earn a good return on your investment you should start investing right  away.
• Mutual Funds offer the best way to start your investment if you do not have enough time to do research and buy & monitor individual shares. Mutual funds are handled by Experience Investment banker and are strictly governed. some Mutual funds even outperform the index they follow to earn stupendous returns.
• Within mutual funds, I believe multi-cap diversified equity funds to be the best option. This is simply because such a fund has complete flexibility on making sector and stock choices. its better than getting stuck to a particular sector or industry which might not perform well in future.

You must invest with realistic expectations, ignore daily and weekly movements and avoid timing the market yourself.  Diversified equity mutual funds provide the best option for retail investors to invest in equity.

Source. I have taken some input from this post . The views expressed and opinion are my personal and have worked for me in past however they are no guarantee to work in future too.