I had done a similar analysis (not only the frequency, but also the day of the week for weekly sips, date of the month for monthly sips etc.) and the results were slightly favouring low freq sips, i.e. monthly > weekly > daily - given the investment is at the beginning of the period.
And it made sense as the general market trend is upwards. So for sip investing, early the better - as it gives more time for the investment to grow. To explain, between a monthly sip of Rs.2000 on 1st of every month and Rs.100 everyday (assume 20 trading sessions in a month), the former gives more exposure and market time to my rupee investment.
To make it more intuitive, take this analogy: a lump sum of 12lakhs invested in 2012 (see it as a decadal sip) vs a monthly sip of 10k every month (12 lacs spread across 10 years) - which do you think would have given better returns?
The general market trend is upwards, so early the better!
P.S. - I understand, for all practical purposes, the difference is negligible for daily vs weekly vs monthly frequencies. But since I spent so much time in the analysis, couldn’t resist from sharing. 