You can do either one or all of the following:
- Start an SIP with one or more Mutual funds (according to your requirement) (I did it, I already had one)
- Create a new Term life insurance. - I already have one and plan to increase it next year.
- Create a new health insurance - I have it already
- Surrender useless policies - I checked the policies that I have but none of them have to be surrendered.
- Organize your financial life - I have all of the financial documents in digital format.
This will certainly help your financial life and don't forget to register for Action month in Jagoinvestor website.
There is very nice article on Stop loss in Understanding the Stop loss. Its a very good read and this explains how to give stop loss and when to exit a position by keeping trailing stop losses. This will make sure that you will come out when the market don't like a particular stock even if you really don't track the share with the complete news flow.