The direction - Excellent (as expected)
The cinematography - Classy (Again expected)
The acting - Very Good (The fresh actors are exploring themselves while the veteran ones are nailing it with ease)
The story - Pathetic and predictable (One of the most important aspects of a horror story apart from cinematography and background score is the story. Writing and directing a horror story is the most difficult and Ghost Stories fails miserably there.)
It is a yawn inducing movie at night and completely not scary during the day. Forgettable is one of the best words that can explain this movie. Though this was expected in a genre which hasn't matured in Indian cinema, some of the moments can be learnt from. All in all, you can skip this movie for many other classy New Year releases on Netflix.