[2] Create a shape with the help of Elliptical Marquee Tool, fill that layer with #f3f1fe.

[3] Add the following layer styles.

[4] Create a new shape withe Elliptical Marquee Tool, fill that layer with #585c68.

[5] Go to Filter>Blur>Gaussian Blur use these settings.

[6] Create one more shape withe Elliptical Marquee Tool, fill that layer with #59a0e0.

[7] Go to Filter>Render>Fibers apply the following settings.

[8] After that go to Filter>Blur>Radial Blur apply these settings.

[9] Double click the layer to open layer style window. Apply settings as shown.

[10] Duplicate that layer, press cntl+t, to minimize your shape like this.

[11] Change the Blending to Differnece.

[12] Create a new shape with Elliptical Marquee Tool fill that layer with Black.

[13] Double click the layer to open layer style window. Apply settings as shown.

[14] Take the Elliptical Marquee Tool use these settings.

[15] Ctrl+Click on previous layer to get selection, then create a shape like this.

[16] Go to Select>Modify>Feather radius 4px.

[17] Create a new laye, fill the selection with white color.

[18] Take the Brush Tool use these settings.

[19] Play with your bursh tool.

[20] Create a circle using elliptical shape tool, Press Ctrl+T. Right Click and select Warp. Select “Arc” style from the preset warp shapes. Apply settings as shown.

[21] Now take the Pen Tool, right click select make selection.

[22] Choose Gradient to and set properties like this.

[23] Create a new layer, Apply gradient to selection to get the result like this.

[24] Done!!! I hope you like it.