Randhawa, the Asian Tour Order of Merit winner in 2002, is now eight-under for 54 holes.
Marcus Fraser put himself in line to make a dream return from injury as he took a one-shot lead over fellow Australian Scott Hend into the final round.
Even as Randhawa kept himself in the running in tied sixth place, SSP Chowrasia (70) slipped to tied 13th place. Shiv Kapur (70) was tied 24th at four-under 206 and Rahil Gangjee (72) was tied 43rd at two-under.
"I was pretty happy and satisfied when I finished par because when I started, it was going all over the place. But yeah, to have finished par, and two-under today, so I'm right there. I like my chances," Randhawa said.
On him being in contention, he said, "It's been a long time, two or three years back. But to have come back and given myself a great chance into tomorrow, it's great. I just need to do what I did the last three days. If anything, maybe the start, I'm not that great on the start but let's hope I can keep the start going and finish, well, also."
That was one ahead of Hend, who bravely parred the last from ten feet for a 67, with Mark Foster, Jbe Kruger and Angelo Que tied for third on nine under.
Overnight leader Ernie Els dropped off the pace when he hooked his tee shot into bushes down the ninth and ran up a double bogey six.
An eagle from three feet at the 13th and a birdie from close range at the next seemed to have got the four-time Major winner from South Africa, Els, back on track, but bogeys at the 15th and 18th, where his approach flew the green, saw him shoot a one over 71 and drop into a tie for sixth.
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