What is your initial response to your manager or immediate superior who is very angry and shouting or raising his voice at you?

It depends.  It really does.

1) Is this a one-off or a repeating pattern?

2) Did you deserve it?

3) What is your relationship with the boss? Long/short, good/bad

4) Is the boss having personal difficulties that you know about?

5) Did they apologise afterwards?

6) Small company or big company with proper HR department?

7) Are  you new or long-served employee?

etc.

Bosses aren't supposed to shout at you - in general it's not proper business behaviour.   However, the business world is composed of people, and sometimes the natural human action is the "right" one even if it's technically "wrong". 

Depending on the circumstances, the correct response is anything from accepting your well deserved bollocking to making a formal complaint to HR.  It's rarely right to shout back.

I will keep silent until he finish the shout and I will explain him the reason for problem. Immediately I will action to rectify the problem

I have10 months experience to tackle such such nature of supervisor. Initially my response was to answer the questions and try to clear my position which results more aggression and shout in department but time to time I start how to tackle my supervisor.

Some finger point tips which was useful in that scenarios are.

1) First learn the nature of your supervisor. (Usually aggressive nature people melt when they tackle politely)

2) Learn what are the issues on which he/she reacts badly or don't repetitively do same mistake.

3) Try to make them friend by asking their views on different issues. Discussion about their hobbies etc.

4) Always keep them in touch whatever you are doing and take their advice even its not useful in front of you. Give them importance. 

silence and accept what he say for time being when he is cool than justify

At first step: I would listen what he say for the time being

At Second Step: I would try to explain the situation in humble way

At last step: I would try to escape from the situation and let him decide what he wants.