Mutual funds are redeemed on the basis of NAV (net asset value) and its cut off time on publicly traded exchanges is 3PM. If the request is submitted before 3 PM, the redemption will be calculated on the basis of the current day’s NAV. If the application is turned in after 3 PM, the redemption will be calculated on the next day’s NAV. Again there is no guarantee which NAV will be better, so there is no such recommended ‘best’ time to sell mutual funds.