Always thought to find some settings in weblogic to dump webservice request and response soap xml while calling webservice. Finally found the settings in blog post here. Thanks to Igor Kromin.
https://www.igorkromin.net/index.php/2015/05/11/how-to-enable-webservices-request-and-response-dumping-in-weblogic/
Below image from Igor Kromin post.
For reference I am posting them here :
JVM start parameters:
-Dcom.sun.xml.ws.transport.http.client.HttpTransportPipe.dump=true
-Dcom.sun.xml.ws.transport.http.HttpAdapter.dump=true
-Dcom.sun.xml.internal.ws.transport.http.client.HttpTransportPipe.dump=true
-Dcom.sun.xml.internal.ws.transport.http.HttpAdapter.dump=true
Enjoy...