With the tournament shortened to 54 holes, the third round will be the final round.
Bhullar, who shot 67, is eight-under 136.
Meanwhile Khalin Joshi (67) moved up to tied seventh at seven-under 137 with a flawless second round. Himmat Rai (71-70) was tied-32nd and was among the three Indians, who made the cut.
Shubhankar Sharma (69-76) had a rough time on his first nine, the back stretch of the course with two doubles on 15th and 17th, and S Chikkrangappa (71-74) both missed the cut.
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A birdie on the 10th brought him closer to the leader, but bogeys on 11th and 15th sit him back. A final birdie on 18th kept him within striking distance of winning a sixth Asian Tour title.
"I'm in the title mix. I played really well from holes one to nine. It got a big dodgy on a few par fours on the back. My two bogeys were a result of a miss-management with the clubbing. Other than that it is a good solid round."