This looks like Occillaria, a cyanophyceae (blue green algae). For confirmation you may contact Professor Dr. P.K. Misra, Botany Department, Lucknow University ([email protected]). He will certainly identify your algae. Good luck.
I would recommend amplifying the 16S-23S gene intergenic region and sequencing the long and the short amplicons. You can find the details including primer sequences in the following article: Appl Environ Microbiol. 2005 February; 71(2): 1097–1100. doi: 10.1128/AEM.71.2.1097-1100.2005
Tarkeshwar--I agree with those that indicate cyanobacteria. It looks like an Oscillatoria sp. to me. This is a blue-green prokaryote that shows motility via an oscillating motion. To verify--look closely at it microscopically and you will notice that you cannot see chloroplasts--instead the entire cell is green. This is because it does not have chloroplasts. The chlorophyll is in the cytoplasm. Also--some of these should be oscillating in the water if you get them young enough. Jim White, Rutgers University
This is not my specialty. However, I think, it's different from the answers above. I enlarged and examined the photo. Look carefully at the bottom of the living being. There is a channel clearly visible in the center. It ends at the lower end. It sounds like a digestive tract. It continues towards the top of the living being. It ends at the top end. Does algae, for example, Oscillatoria, have such a channel? I think it's a microscopic worm. Is it may be a helminth? This is very interesting: