This is just another form of 1. As we understand, Lumpsums tend to win more often than not as compared to SIP, it is better to put a single SIP at a comfortable time. By comfortable time, I mean that if you receive your salary on 5th, then set up your SIP date to 15th or so; this gives you flexibility when your salary will get delayed (it is almost inevitable that this will happen). The added advantage of a single SIP is that the paperwork of future capital gains tax calculations will be easier. Having weekly/daily SIPs will have hundreds of entries and calculations after a few years.