Can I invest in mutual funds when market is at its peak?

Is it okay to invest in mutual funds at a time where market is at peak level?
--Hitesh Sisodiya

Nisreen Mamaji, Founder, MoneyWorks Financial Advisors, responds:

It is not easy to predict the market. One can never be sure about the ‘peak level.’ In hindsight, it may appear very clear. That is why you should invest your surplus funds in equity schemes for a long term horizon of more than seven years. By increasing the investment horizon, you will iron out the volatility. There is a marginal difference between investing during the lowest/highest Sensex rate of the year and any arbitrary date if the investment is held for a longer duration.