nṛsiṁha-āveśe - in the ecstatic mood of Lord Nṛsiṁha; prabhu - the Lord; hāte - in His hand; gadā - club; lañā - taking; pāṣaṇḍī - the atheists; mārite - to kill; yāya - goes; nagare - in the city; dhāiyā - running.

In the mood of Lord Nṛsiṁhadeva, Lord Caitanya ran through the city streets, club in hand, ready to kill all the atheists.