view slideshow not working I created a view block and a content type "slideshow image" with "title" and "image" specially for slideshow.
In this block only images of "slidshow image" content will appear.

And i added up five elements and i see effects on the slide show.

And even i created a directory named "jquery.cycle" in libraries
 \sites\all\sites\all\modules\libraries. Added the jquery.cycle.all.js file into that directory and but i didnt got any sliding of images...

Only the latest image is displaying but no effects.
If you are using the libraries API module, the correct place for the JS code is actually sites/all/libraries, not \sites\all\sites\all\modules\libraries (why do you have sites/all in the path twice?)

What slideshow module are you using, views_slideshow? I don't think you will actually need to add a jquery library if that is the module you are using, but that will depend on the actual module you are using. If you are trying to build a slideshow from scratch with jQuery cycle, here is info from the handbook on getting your js added to Drupal http://drupal.org/node/304255