Is there any set of tutorials available that will explain the basics of HLSL from ground up and take the user all the way to advanced level so that he/she can code his/her own complex shader effects ?
A quick google search yielded RB Whitaker's tutorials, which are using D3D9-level HLSL and XNA for the framework. If you're already using XNA or have experience with it, these could be useful. They lean toward the novice level, but they do cover the standard shader effects like bump mapping, environment-map reflections, and some very simple postprocessing.
In D3D10-11 the language changed a bit. If you're interested in D3D10-11-flavored HLSL, take a look at RasterTek's tutorials. These also range more toward the advanced end, including topics like shadow mapping, particle systems, and bloom.
Once you get to the very advanced level, there usually are not "tutorials" - there are just papers and blog posts that discuss techniques at a high level, and open source engine / demo code you can read if you need more details.