Can I time the SIP in equity mutual funds?

I am 25 years old. I plan to invest Rs 25,000 per month in equity mutual funds (direct plan - growth) that have moderate to high risk. I have a long-term horizon of more than three years. Since 2018 is expected to be a volatile year, I also plan to 'time the market' by pausing SIPs during highs and investing the missed SIPs during lows (based on the stocks in these funds). I have selected 10 schemes to ensure diversification, as some of these are focused funds. I have selected ELSSs for tax saving. Please review my portfolio. I am planning to invest in these schemes:

IDFC Tax Advantage (ELSS) Fund: Rs 3,000
Principal Tax Savings Fund: Rs 3,000
Invesco India Tax Plan: Rs 2,000
Motilal Oswal Long Term Equity Fund: Rs 2,000
Kotak Select Focus Fund (Now called Kotak Standard Multicap Fund): Rs 3,000
IDFC Focused Equity Fund: Rs 2,000
Tata Equity PE Fund: Rs 2,000
Invesco India Contra Fund: Rs 3,000
HDFC Small Cap Fund: Rs 3,000
L&T Emerging Businesses Fund: Rs 2,000
-- Amir Parvez

Veena Malgonkar, Certified Financial Planner, KM Wealth Solutions, responds:

It is extremely difficult to time the market and I suggest that you do not even try. Also, you have too many funds in your portfolio.

Assuming that you do need about Rs 120,000 in tax saving funds, I suggest that you invest in these schemes:

Axis Long Term Equity Fund: Rs 5,000
Motilal Oswal Long Term Equity Fund: Rs 5,000

You can also invest in one multicap fund and one midcap/smallcap fund. These are my recommendations:
Kotak Standard Multicap Fund: Rs 5,000
HDFC Small Cap Fund: Rs 5,000

And instead of trying to time the SIP, which might go wrong easily, have an SIP in a debt fund. It can be used to rebalance your portfolio in case there is a correction.
Franklin India Low Duration Fund: Rs 5,000

Also, it would be better to consult a financial adviser for planning your investments.