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It depends how much money you have to spare for investment and you should set a goal for yourself. If you are young, you can start investing some in mutual funds (through SIP) and some in equity shares. Suggest you go for long term (at least 2-3 years) on equity investments. The market is likely to go for a correction soon, in which case, you should buy some scrips at a discounted price.
Always look for a good and sound companies for investments. Some companies do give very good returns for their shareholders. Suggest you subscribe to Equitymaster. They advise you on large cap, medium as well as small caps.
Be patient and never be on a hurry to buy or sell.