India is still in a strong position than England. England had a good start but their lower order failed them this time. This is the lowest score for England in these last three test and India looks in track to get over that. With just two days gone, there would still be enough time to decide the game even if India bats whole of 3rd day. KL Rahul and Rishab Pant are int the crease for some time now. They would come tomorrow refreshed.
It would still be early to decide as how the teams performs in 2nd innings mostly decides the results of the game.

Whether India is in a good position or not will depend on India's performance at the start of the day . If India performs well in the first session and does not lose any wickets then India has a big chance of taking the lead in this match. But if India loses Pant or Rahul's wickets at the start of the day then it will be tough for India to collect up to 350.
India lost their third wicket for 107 runs. On the other hand , we saw England losing their third wicket for 153 runs. So it cannot be said that India is in a good position. India will surely have to bat very carefully at the start of the third day.
Rishab Pant , Rahul, Jadeja and Reddy are capable of playing big innings. If these four batsmen are able to bat with some responsibility then India will be able to collect around 400. But I think england will take the lead in the first innings