Yes, you can invest in both. SIP builds wealth over the long term in a systematic manner. Any amount that is available can also be invested lumpsum as well.
Invest for your goals in the right type of fund so that it meets your life goals. Take a free risk profile assessment to find the right fit for you.
When you invest, ensure you only do in Direct Plan variants of the Mutual Funds. You then get upto 40% more in long term portfolio size by avoiding commissions and brokers.