We present spectral and timing properties of the newly discovered X-ray transient source, MAXI J1535-571, which is believed to be a Galactic X-ray binary containing a black hole candidate (BHC) as the primary object. Since its discovery on 2017 September 2, it has been monitored regularly in multi-wavelength bands by several satellites. We use archival data of the Swift (XRT and BAT) and MAXI (GSC) satellite instruments to study accretion flow dynamics of the source during the outburst. During its outburst, the source became very bright in the sky with a maximum observed flux of 5 Crab in the 2-10 keV GSC band. Similar to other transient BHCs, it also shows signatures of low-frequency quasi-periodic oscillations (QPOs) during the outburst. Spectral data of different instruments are fitted with the transonic flow, solution-based two-component advective flow model fits file to find the direct accretion flow parameters. The evolution of spectral states and their transitions are understood from the model-fitted physical flow parameters and nature of QPOs. We also estimate the probable mass of the black hole from our spectral analysis as 7.9-9.9 M o or 8.9 ± 1.0 M o.