If you look at the 5 year chart of Gitanjali Gems the price has fallend from 650 in april 2013 to 30 rupees in Feb 2016. Then it has slowly picked up.
From April 2017 to October 2017, its main promoters value fell by 91%. This would have rasied alarm bells in your mind. Apart from Government regulations on gold import, demonetization, the company alos had issues with SEBI.
So, I would say wait. The market is at the peak and your share is falling. Please follow the daily trend, Every lower circuit equal to a 5% fall, the day you see a reversal in the trend, then you can start averaging. If you can hold on, then don't quit now.
Lot of people would advise averaging, but don't average in one shot. Start averaging in a step wise manner, you can keep adding in small lots of 10% (400) each time to spread out your risk.
The other option would be to plan to book a loss ( you would lose around 56-58K), the money you can invest in a MF with a 3-5 year horizon ( longer the horizon, better are the chances of success with equity-based MFs), the loss you have booked can be used to offset any short-term profits you have made in this financial year, you can also carry over the loss to adjust for the next 2-3 years.
Do you have a portfolio manager, if so then have a chat with him.