First of all thanks Paul Sturrock for giving me a correct direction
We are using Myeclipse Blue and trying to lower the use of RADs
so as you told i went searching IBM tools and found two interesting tools
IBM HeapAnalyzer and IBM Pattern Modeling and Analysis Tool for Java Garbage Collector
this tool really gave an overview of objects that are being created and been garbage collected
Then i went for trial version of YourKit (it took time to configure it)
Now i got all the packages that are slow in response and methods that consume a lot of memory
But i am not leaving it i am learning Garbage Collection in detail