Analysis and study of parallel flow velocity shear and electrostatic ion cyclotron (EIC) instability performed in plasma containing massive positive ions and electron by using the method of characteristics solution and kinetic theory in the presence of homogeneous direct-current (DC) electric field perpendicular to ambient magnetic field. The calculation of growth rate and real frequency has been done by using the computational technique. The effect of many parameters like shear scale length, homogenous d.c.electric field, magnetic field, electron ion temperature ratio, angle between wave number k⊥ and k|, on growth rate and also the effect of homogenous d.c.electric field, magnetic field on real frequency has been discussed by using the experimental data. Applications to possible laboratory plasmas and industries are also analyzed.