Assuming you already have the pcx files that you want to compile into an ani, just load them into AniBuilder and run it on its default setting. It is what I do for shield anis, and works every time.
Or did you mean the part about getting the right colour pallette? In that case, I suggest making your image in greyscale, and then copying it into a frame extracted from an already existent hud animation. Provided you have a proper graphics program (Corel PhotoPaint, or failing that then something by Adobe), the error diffusion algorithims will smooth out any graininess caused by incompatible colour pallettes to produce a nice looking ani file. If you don't have a proper graphics program, then open the extracted hud file and create your image in it directly so as to keep the proper pallette.
Probably the easiest thing, however, is simply to do a search for the SB Vindhyachal, and get the generic shield ani out of that.