Hi Santhosh
NCryptoki allows to do what you need.
Keys in the HSM can be identified by the LABEL attribute or ny ID attribute. You can use the Find method to search for the required key specifying the LABEL and/or the ID as filter.
Once you have identified the key you can use Encrypt and Decrypt methods
You can find a piece of code that does that in our wiki in this page:
http://wiki.ncryptoki.com/Encrypt-and-Decrypt-with-a-DES3-key.ashx