Also my Elasticsearch data file is around 50Gb, is there any method to reduce the size other than deleting the index.
Running optimize might help a bit, curator can ke used to automate it.
There is only one node currently available, how to create more nodes and replicas? Do i need to run another elasticsearch instance in same machine?
You can have multiple shards on a single node. However having multiple replicas of the same shard is not helpful on a single node since you can lose both at once. You should look into starting up another node on another machine.
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