Investment strategy for bulk investment

I have around 50L to invest. I am little skeptical around making a bulk investment in mutual funds or stocks at this point since most of the stocks are at all time high.

Let me know if this is a better plan:

Instead of the bulk amount in stock market, I will put it in FD as of now. I will opt for an monthly interest FD plan and invest the monthly FD returns in mutual funds as SIP. I could put the FD under under my parents name to have 0 taxes. When there a significant dip in the stock market or if there is a market crash, I could break my FD and and invest them in the US stocks or mutual funds. Will this be a better option? i can be confident that my initial investment could be safe.

Will there be any market crash in near future? (2-3 years)