I want to learn wordpress template application, that how can I build new one. I really want to learn that. I know HTML, Javascript, CSS, little designing in photoshop, SEO, SEM, social media and other tools for research. I am excited to learn this. What other things that I should know. Thanks.
The easiest thing to do is to start with a template like "Twenty-Ten" or there is another one called "Bones WP Development Theme" I wrote an article about it on my website, but because I am a new member here I cannot share the link. Bones is a basically a blank slate with HTML5/CSS3 that is more or less a skeleton for Wordpress Themes. It's easy to code on and provides a good start with WP Development. Good luck!
A must read tutorial for getting started with wordpress theme. http://wp.tutsplus.com/tutorials/theme-development/developing-your-first-wordpress-theme-day-1-of-3/
google for it and you will get a lots of quality Tutorial on the same topic. But i would love to recommend you wordpress documentation. Because it is the bible of wordpress.
I have download "Bones WP Development Theme", I will go through it one by one. I will experiment in css and all that. Thanks buddy. Last Que: After learning, and building WP theme, what do you think about "wp theme business"