Riding on another David Warner century, Australia today scored 290 for five, stretching their second-innings lead to 363 and Gavaskar opined that if the hosts declare overnight, India might be in with a chance.
"Well, one has to stay positive. I'll say India can still win this match. A good opening stand and a couple of partnerships will put them in a good position. If Murali Vijay and Shikhar Dhawan get going then you never know.
"They should asses the situation at the interval and not think too far. 360 plus is not easy but bat sensibly and you are in with a chance post tea," Gavaskar said.
With Australia known to play a competitive game, Gavaskar said that the hosts were right in not declaring the innings on Day 4 and kept the visitors guessing.
"I think we will have an overnight declaration. Declaring today evening would have meant giving India a 340-run target and that would have been achievable.
"But 363 is tough and they can put Indian in trouble early. So I can understand why they didn't declare earlier. It was a good move by Australia," said Gavaskar.
Talking about debutant leg-spinner Karn Sharma's effectiveness as a bowler, Gavaskar said that the Meerut-born player has the attitude in him.
"I like his attitude. He is not afraid to get punished. In Australia, you are bound to get punished. Get hit for boundaries. But he keeps his head up. Keeps coming back at the batsmen everytime he gets hit. I think a track like Sydney will be good for him. He is a pretty decent bowler," said Gavaskar.

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