Yes this worked flawlessly!
After I got access to telnet server, I installed breed bootloader (Only compatible is of Mi Wifi Nano)
DONT USE THE MINI BOOTLOADER USE THE ONE FOR NANO FROM BREED OFFICIAL WEBSITE
Mi Nano Breed Bootloader -> https://breed.hackpascal.net/breed-mt7628-hiwifi-hc5661a.bin
Instrcutions to install bootloader and Flash Firmwares->
Now for the firmware, I installed OpenWRT 19.07.2 (Mi Wifi Nano) using breed web
Its working, only problem is WAN and LAN1 Ports are interchanged so for internet I need to connect to LAN1, WAN port is working as regular LAN.