Left-handed Diksha, who had shot a brilliant 66 in the first round, added a very steady 71.
Diksha is now seven-under 137 through 36 holes, while Ananya is four-under 140.
Saaniya Sharma (70) was the only other player to card a sub-par score on the second day. At one-over 145, she is currently eight behind Diksha and five behind Ananya.
Diksha had one bogey on par-5 third and a birdie on ninth on the way out. On the back stretch, she birdied par-4 12th and par-5 18th while dropping a shot on 13th.
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However, with birdies on 15th and 17th Ananya was able to recover lost ground.
Neha Tripathi (74) was tied-third with Saaniya at 145, while Gaurika Bishnoi (74) was fifth at 147. Amandeep Drall (74) was sixth.
Barring a brilliant comeback from Amandeep, the top spot on the Hero Order of Merit seems to headed Gaurika's way.
Facing a 11-shot deficit against the leader, Amandeep's chances of winning the tournament are very slim, barring a miraculous final round.
Gursimar Badwal (78) is seventh at 150, while Smriti Mehra (75) is tied-eighth alongside Ayesha Kapur (77), Mehar Atwal (77) and Siddhi Kapoor (77).
The final round will see Diksha, gunning for her first pro title, play with fellow amateur Ananya and Saaniya.
Neha, Gaurika and Amandeep will play together in the fourth group, and will be preceded by Ayesha Kapur, Smriti Meha and Gursimar in the third group.
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