In Today’s business world the most important phenomena is investment decision making process. To get expected returns we have to sacrifice present opportunities, this is known as investment in business, so while making decision for investments we keep different things in our mind to get best future benefits. Investment decision making process depends on many factors but the most essential is behavioral biases present in the individual investors. Behavioral biases significantly influence the investment decision by which investors show different behavior toward their investment and under these biases investors generate different beliefs and preferences in the mind for financial satisfaction which make their investment decision irrational from reality. The study results developed a segment with four clusters of individual investors which is based on eight significant biases and these four clusters were named as Novice Learner, Competent Confirmer, Cautious Anticipator, and Efficient Planner.