Create an ellipse using elliptical shape tool.
Enable "subtract from shape area" at the top bar. Create a circle using elliptical shape tool.
Similarly create more circles.
Press Ctrl+T. Right Click and select Warp. Adjust the nodes as shown.
Select all the paths using path selection tool. Duplicate the path. Press Ctrl+T again. Move the anchor point as shown and rotate it 4°.
Duplicate the path again and press Ctrl+Shift+T to transform again with previous settings.
Keep duplicating the path and press Ctrl+Shift+T with each duplicate.
Duplicate the layer. From filter menu select "blur>>radial blur". Apply settings as shown.
Apply 1 pixel stroke to shape layer. Change the layer mode to "Overlay" from the layer palette.
Duplicate the layer to stronger the effect.
Select and merge all the layer. Duplicate the layer. From filter menu select "Texture>>Stained Glass". Apply settings as shown.
Change the layer mode to "Screen" from the layer palette.
Press Ctrl+U to open hue/saturation window. Apply settings as shown.
