there are major 4 steps
1. copy the .android folder to your desired location as i did in D:\Android\.android
2. set ANDROID_AVD_HOME in environment variables like ANDROID_AVD_HOME
D:\Android\.android\avd
3. change avd name.ini file contents with new location like
avd.ini.encoding=UTF-8
path=D:\Android\.android\avd\Pixel_2_API_29.avd
path.rel=avd\Pixel_2_API_29.avd
target=android-29
4. restart android studio