Blending Options-Stroke

Make a copy of the new represented layer and make use again of the Free Transform option to minimize it a little and place it the way you may see below:

Select the next instrument and create an ellipse colored in this shown color – FFFFD1.

Blending Options-Stroke

Make two copies of this new made layer and apply again Free Transform option to make the changes in the ellipses’ sizes. Place everything the same way it is demonstrated here:

For your convenience, now we should merge down all the layers containing those three recently made ellipses in a group.
Make a copy of this group and use Free Transform option to minimize it a little and place it the same way it is shown here.

The final result is this one!