Long Term Investment as SIP through DCA

As we know, many investors prefer SIP (Systematic Investment Plan) for long-term investment, especially with a 10–15 year investment horizon. However, as a new investor, it can be confusing to decide whether to invest in ETFs, mutual funds, or direct stocks, and this uncertainty can also create additional risk.

I am thinking of investing directly in some of the best blue-chip stocks instead of choosing an ETF or mutual fund. My strategy would be to invest regularly and, whenever the price of a selected stock goes down, buy more shares at the lower price through averaging or dollar-cost averaging. In this way, the average purchase price of the stock would gradually come down, allowing me to accumulate fundamentally strong companies at discounted prices.

I believe that, over a long-term period of around 15 years, this strategy could potentially provide better returns than other investment plans.

I would like to know whether this strategy can work effectively and what someone has better opinion on this approach.?

Plz guide me in this regard

Thanx

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Long Term Investment as SIP through DCA