##Basic Rules of estimation
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There are no fixed set of rules for estimation, but still there can be some based on what we have experienced so far in "Agile" projects. The so called "Waterfall" project execution model is obsolet and rarely used because now the products are constantly evolving and features are removed/added very quickly based on business dicisions ( :'( We all hate this! But its truth! )
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Understand the requirements first, in detail
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You should avoid estimating what you can count. And if you can't get a count, you should at least try to compute the estimate from a related count.
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Identify use cases and clarify each and every step for them. This will give more insights about the requirements, and clarifies whole flow.
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Like, What user will do here, when he clicks what happens, when he enters wrong/no data, what if file is bigger