SIP in direct equity (self managed MF!)

Hi All,

So May 2014 has been a good month for India (election) and personally for me as well (Landed a new job.)

Now I am planning to infuse the 'pay hike' into equity through SIP. So I have two options -

1) Equity MF

2) Direct equity - Manage my own equity MF ;)

Following is the planned investment. I would appreciate any comments/suggestion for modifications/brickbats.

I have also provided my current portfolio for reference.

Stock Allocation Comment
Astral Poly 20% Astral is already my largest holding @ ~18% of my portfolio. Should I invest more?
Atul Auto 20%
Repco 20%
VST Tillers 20%
Ajanta Pharma 20%

- Valuation of page has always deterred me from entering it. A good candidate for SIP?

My current portfolio is as mentioned below

Stock Allocation Comment
Astral Poly 18.70% 1-Core
Mayur Uni 11.49% 1-Core
Selan Exp 11.47% 1-Core
Cera 9.56% 1-Core
Kaveri Seeds 6.93% 1-Core
Supreme Ind 6.57% 1-Core
Atul Auto 4.01% 2-Want to Make Core
Ajanta Pharma 3.92% 2-Want to Make Core
Repco Home 3.75% 2-Want to Make Core
Shilpa Medicare 3.68% 3-Hold
Mirza International 3.02% 3-Hold
Alembic Pharma 2.75% 3-Hold
IndusInd Bank 2.59% 3-Hold
Orient Cement 2.70% 4-Opportunistic Bet
KNR Construction 2.66% 4-Opportunistic Bet
Swelect 1.62% 4-Opportunistic Bet
Gulshan Poly 1.81% 5-Token
Poly Medicure 0.79% 5-Token
Amara Raja 0.71% 5-Token
VST Tillers 0.64% 5-Token
Liberty Shoes 0.64% 5-Token