Is there any option available in Loadrunner to track dynamic value automatically...
I think you'll need to explain that a little more thoroughly.
I think you are talking about the dynamic content generated by the webserver / application like session id etc.,
If your question point to that then you need to look at the following function web_reg_save_param()
If you want a high quality software system, you must ensure each of its parts is of high quality. by Watts S. Humphrey
Or you can use web_create_html_param()
LoadRunner supports the auto-correlation function.
*what* auto-correlation? Cookies, sure - and there are tools that can make correlation easier for some - but please explain auto-correlation.