This paper shows a symmetric image encryption based on bit-wise operation (XORing and Shifting). The basic idea is block ciphering (size of each block is 4 bytes) technique to cipher the secret bytes, after that ciphered bytes are again shuffled among N positions (N is the size of secret file). The scheme is combination of substitution as well as transposition techniques which provides additional protection of the secret data. The substitution and transposition are done using dynamic substitution box (SBOX) and transposition box (TBOX) which are generated using the secret key and made to vary for each block during ciphering. The size of encrypted data is same as the size of secret data and the proposed scheme has been tested using different images. We have also presented the security analysis such as key sensitivity analysis, statistical analysis, and differential analysis to prove the strength of our algorithm against crypto analysis.