can somebody help get the choice of D flipflop and up/down counter that can work in rotary encoders such that counting can be incremented in one direction and decrement in the other direction.my Vcc/Vdd should be above 10V.

 

Take a look here:
CMOS Presettable Binary Up/Down Counter: http://focus.ti.com/docs/prod/folders/print/cd4516b.html

The CD4510B is BCD, the CD4516B is binary.
If you're thinking of sending the output to 7-segment displays, use the CD4510B. You would still need a BCD to 7-segment decoder/driver though.

What encoder do you have?

 

To sense direction, the encoder has to have quadrature outputs, plus some external logic to generate the up/down signal.