Investors sentiments has been one of the key factors in determining the market movement. Various study in the different parts of globe were conducted on the behvaioural aspects of investors to understand how behvaioural biases influence investors investment decision making. The major objective of this paper is to find out the validity of behvaioural model proposed by Le Phuoc Luong and Doan Thi Thu Hal (2011) in south Gujarat Region. The data were collected from the retail equity investors from

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... the 7 district of South Gujarat region through structured questionnaire and the data collected were analyzed using AMOS package. The results showed that the behavioural factors influenced the investors investment decision making and the validity of model also met all the benchmarks for accepting the validity of model.