<div id="slider">
<div class="wrap">
<div class="panel">Panel1</div>
<div class="panel">Panel2</div>
<div class="panel">Panel3</div>
</div>

<div class="previous">This need Implementation</div>
<div class="next">This need Implementation</div>

</div>

<div class="nav">

<ul>
<li> panel1</li>
<li> panel2</li>
<li> panel3</li>
<ul>

</div>


$(document).ready(function () {

$(".wrap .panel:not(.active)").fadeOut();
$(".wrap .panel:first(.active)").fadeIn();

$(".nav ul li").click(function (event) {

$(this).addClass('current').siblings().removeClass('current');

$(".wrap .panel").stop(true, true).fadeOut().eq($(this).index()).fadeIn();

});
});

var currentIndex = 0;// store current pane index displayed
var ePanes = $('#slider .panel');// store panes collection
function showPane(index){// generic showPane
    // hide current pane
    ePanes.eq(currentIndex).stop(true, true).fadeOut();
    // set current index : check in panes collection length
    currentIndex = index;
    if(currentIndex < 0) currentIndex = ePanes.length-1;
    else if(currentIndex >= ePanes.length) currentIndex = 0;
    // display pane
    ePanes.eq(currentIndex).stop(true, true).fadeIn();
    // menu selection
    $('.nav li').removeClass('current').eq(currentIndex).addClass('current');
}
// bind ul links
$('.nav li').click(function(ev){    showPane($(this).index());});
// bind previous & next links
$('.previous').click(function(){    showPane(currentIndex-1);});
$('.next').click(function(){    showPane(currentIndex+1);});
// apply start pane
showPane(0);