Should I withdraw sip for booking returns and rebalancing?

So around 80% of my corpus is invested in one mid cap fund,, which has given me good returns over the last 7 years. At this point, every other day, my fund is eroding by 1-2% but I still have returns of around 12% left. I have already covered my LTGS of 1.25 for this year and reinvested, so any other return booking would have a tax liability. This particular fund also has a high 1.5% ER because at the time I had invested using my bank. Given the seemingly downward trajectory of the market rn, I think all my profits will be eroded before march (an approximation based on projections of nifty reaching 20-21K before bottoming put). I want to rebalance my portfolio now, and also book some returns even if I have to pay 15-20% tax. With the withdraws funds, I want to rebalance my portfolio by investing in Flexi funds, a balance of small and mid cap, secondary market SGB, gold silver etf, and diversify in US market. I have a long term horizon of investing, atleast 5-8years. Is it a wise idea to withdraw my SIP rn, book some 10% profit, and invest it gradually as the market declines, thereby also not losing down a lot on potential lower NAV benefits? I definitely need rebalancing anyway, it's long overdue. All suggestions are welcome, thanks lads! Investment horizon - greater than 5 years Risk appetite - moderate Reason for fund allocation - started because of a lack of research but continued due to decent returns