The 24-year-old Indian ended the day in equal 10th place on 11-under-par 202, tying with 14-time Major champion Tiger Woods and inaugural CIMB champion Ben Crane.
Playing his ninth week in a row, Bhullar will start the final day five shots behind joint leaders Bo Van Pelt, who shot a stunning 62, and Robert Garrigus at the Mines Resort and Golf Club.
Anirban Lahiri, the other Indian in the field, shot a three-under 68 but still dropped two places to 25th, down from 23rd. Lahiri had six birdies and three bogeys.
Van Pelt flirted with golf's magical 59 as he was 11 under par through 17 holes. But he disappointingly dropped a double bogey on the 18th hole. Garrigus overcame a sluggish start by finishing with three closing birdies for a 69 and shared the lead on 16-under-par 197.
South African Jbe Kruger, third on the Asian Tour's Order of Merit, kept himself in the title hunt with a 69 putting him two strokes back.
Bhullar, winner of two Asian Tour titles this season, was in the same kind of form that saw him card 65 on first day. He peppered the flags with sharp iron play and rolled in seven birdies including four on a trot from eighth hole. His sole mistake of the day came on the 12th.
"I hit the ball good and pretty close but the lucky charm was my putter. The game plan was pretty simple, I hit all 14 fairways and hit 18 greens in regulation. I told myself to keep hitting fairways and be calm and patient on the greens," said Bhullar.
"It always inspires me when you play in such big tournaments and see your name on the leaderboard. It is a good feeling and it gives you goose bumps. It's a star-studded field and everybody is trying to win." (MORE)
