Disconnection of hc-05

I am using an HC-05 which is powered up by using arduino nano and the voltage what I am getting from nano is 5.5 V.
The supply what I used is 7.3V battery and given to a voltage regulator, to down to nearly 5V for arduino nano.
So I think power is not the issue also the code in nano is just basic led blink code.
My target was to get raw data from a force sensor over bluetooth but as it is getting disconnected after connecting in 2 seconds.
what could be the reason?
I have also tried the same using mobile phone but same issue persist.

That 5.5V concerns me, so an exact schematic of your power setup would help us direct questions about what's going on. Words are almost always inadequate, due to problems of interpretation, so please provide a schematic showing sources, interconnections, and any voltages measured.

Welcome to the forum

You started a topic in the Uncategorised category of the forum when its description explicitly tells you not to

Your topic has been moved to a relevant category. Please be careful in future when deciding where to start new topics

You have said nothing to show that, and quite a lot to show that power is the issue. Power is not volts.
You might start by coming forth with details of the battery and the regulator.
Better still, try running the gear with a 1A wall wart.

That is a problem.

Some HC-05 use 3v3 level for RXD (the image should show 3.3V on RXD) while using 3.6v to 6v on the VCC. Read the "back" of your HC-05.

If your HC-05 uses 3v3 on RXD as described in the link below this image... make a voltage divider like this (also described in the link)...

https://www.martyncurrey.com/arduino-with-hc-05-bluetooth-module-in-slave-mode/