[1] Take a new file of 1280 pixels, 1024 pixels, of resolution 72 dpi in the RGB mode with a white background.

[2] Make a Shape with the help of pen tool on a new layer.

[3] Fill it with black.

[4] Open Bleinding Options and apply these settings.

Your image should look like this with these two effects..

[5] Now make a Circle on a new layer and fill it with white.

[6] Open Blinding Options of this layer and apply these effects.

Your Image is Almost Ready..

Apply Its Shadow if Required…and it Done…!!

Thanks For Reading..!!