My site is mobile friendly, but still i see traffic dip. May i know what is the reason?
Amar, it's not possible to answer your question with the information we have about your situation. Additionally, please understand that this forum is an independent forum that has no connection with Google, so demanding an answer from us is pointless. Many of the members here are experienced SEOs, but we are not psychic. Every site is different, and if some sites do well in mobile, then other sites may do less well. Making a site mobile does not automatically increase its rankings.
How old is your site? How old is the mobile version? Did it do well as a desktop site? How good is your content? How fast do your pages load?
What kind of inbound links do you have? Are your pages linked to from high quality pages, and are your links freely given editorial links from high quality pages that are likely to send traffic to your site?
Does your site convey Expertise, Authority, and Trust, qualities that Google is seeking out? Is it a site that's helpful to your intended audience, or is it primarily optimized for keyword matching? It may be difficult for you to judge by rank position, as the context of the query and typical searcher intent may not at all match your particular search patterns. Etc etc.
We don't allow specifics in WebmasterWorld, nor do we do site reviews in the public forums, so you will need to give us abstract examples describing your situation. The quality of the answers you get is likely to relate to the quality of your questions and the awareness with which you describe your situation.
But your description of your situation right now is too vague and your question is too general for you to expect a helpful response. Do some reading in the forums, and see what kinds of questions get good answers. I hope this helps.