Step 5
Now we take duplicate two time of circle layer and select middle duplicate circle layer, clear layer style of this layer after clear layer style we get a white circle as shown in preview.
Now we applying Transform tool on this layer go to Edit > Transform or (Ctrl+T).
Now we press Shift+Alt and minimize this white circle layer as like in preview.
After this procedure we go in layer panel and Fill down 100% to 0% then we get a again blue and white circle as shown in preview.
Ok, now we are applying layer style in this layer. Go to Layer > Layer Style > Blending Options and apply stroke.
Stroke
After applying Stroke we get a new circle as show in the preview.
Step 6
Now we select the second duplicate circle layer and clear layer style from this layer then we once again on white circle as shown in preview below.
Now we applying Transform tool on this layer as like in step 5 and minimize this circle from the second circle as like in preview below.
Now we go to layer panel and Fill down again 100% to 0%.
We applying again Gradient Overlay on this layer.
Gradient Overlay
After applying Gradient Overlay we have get third circle as shown in preview.
Step 7
In this step we take a new layer, select Elliptical Marquee Tool and draw a circle as like in preview.
After draw a circle we fill this circle with #3bbcea color and we down Opacity of this circle layer till 45%.
Now we Erase the left part of circle with Eraser Tool or Polygonal Lasso Tool. After erasing this part then we get a new effect as shown in preview.