Hello myamit - Coming from a technology/software background, I am currently building a tool that aims to do pretty much exactly what you have described. However, it is not yet complete.
So far I have:
1 - Historical NIFTY Options data between 01-01-2004 and 31-12-2009, scraped and loaded into a database
2 - Some simple tools to query this data and generate custom plots
The strategy backtesting part is something that I have been thinking of doing, but haven't got time to finish it yet.
If you are interested, I will keep you posted. In fact, if there are more people interested in this, I may be motivated to finish this sooner.
Regards
Ketan