1. A method of estimating constraints during execution of a plurality of test cycles, the method having computer executable code tangibly embodied on a non-transitory computer readable storage medium, and the method comprising: receiving, by a processor, constraints determining execution of the plurality of test cycles, wherein the constraints comprise resources and time, wherein a test cycle of the plurality of test cycles comprises a plurality of test cases, and wherein the test cycle indicates checking a functionality of an application; selecting, by the processor, a set of test cases from a test cycle; constructing, by the processor, a dependence graph for the set of test cases selected, wherein the dependence graph is constructed by: creating a plurality of nodes for the set of test cases; and creating an edge between two nodes of the plurality of nodes when a test case is executed subsequent to execution of a previous test case in the set of test cases; assigning, by the processor, a weight to a node of the plurality of nodes; constructing, by the processor, a dependence sub graph based on the dependence graph for the set of test cases selected, wherein the dependence sub graph is constructed by performing a depth first walk on the dependence graph of the set of test cases selected; identifying, by the processor, a subset of nodes based on the dependence sub graph, wherein the subset of nodes indicates absence of the edge for the node with previous or subsequent node; grouping, by the processor, the subset of nodes into a first group and a second group based on the constraints and the dependence sub graph; calculating, by the processor, a first aggregate weight and a second aggregate weight corresponding to the first group and the second group respectively; rearranging, by the processor, the nodes in the first group and in the second group to balance the first aggregate weight and the second aggregate weight, wherein the nodes are rearranged to have a minimum difference between the first aggregate weight and the second aggregate weight corresponding to the first group and the second group respectively; and executing, by the processor, the subset of the nodes in the first group and the second group for the constraints received for estimating the constraints required to execute the test cycle.