My ESP-01 (Wifi Module) connected to arduino always disconnects and reconnects repeatedly to blynk.

The SoftwareSerial library is trying to emulate a hardware UART with software. Unfortunately the Arduino Uno doesn’t have enough processing power to reliably support high baud rates via SoftwareSerial.

You need to tell your ESP-01 (via an AT command, which is best done using an FTDI adapter) to communicate at 9600 baud then change your sketch to use the same baud rate.
How you do this will depend on the firmware version of your ESP-01.

The issue is fully explained here…

Pete.