Hi kiran kiran]
You created a freestyle project. So you have to define what artifact (war,ear, jar) you want to deploy by setting 'Built resource to deploy'. You can set a regex like decisioningweb\.war. You also have to define in which directory (field 'Base directory where the resource to deploy can be found') the plugin will look for the file (D:\kramya) Then you can set the targets new_ManagedServer_1 in the field targets (the name of your ManagerServer on which you want to deploy your app. By default the plugin try to deploy on the Admin server).
Then advanced configuration field is needed only if you want to override default weblogic command. Try with the default by leaving the field 'Command Line' under Weblogic Deployment Command blank.
Please refer to the documentation for further information. https://wiki.jenkins-ci.org/display/JENKINS/WebLogic+Deployer+Plugin