how much time it take to get Item approved or denied ?

summited time in 5 day

Totally depends on the item, category and many things beyond envato’s control but general guidelines (not guaranteed) are here

Assuming that Xmas/NY is ahead, you may add additional few more days for the review

my codecanyon product . is 3 days but summited time 5 day ago

Again that link is not a guarantee and tends not to include weekends