The paper examines the impact of psychological biases on investor decisions Investors always make rational decision. He or she collect information about investment and while analyzing investment decision various psychological factors effect on investor’s investment decision. However, investor also influenced by various psychological bias and investor personalities that effect on investment decision. Behavioural finance studies that investor spend time on investment decision while that time he or she influenced by biases. The aim of this paper is to evaluate impact of behavioural factors on investment decision made by investors in Aurangabad city.