The chances of England U19 winning the first Test match are very slim. The team has already lost 5 wickets in the first innings. There is a high possibility of losing all the remaining wickets early in the next day are high. All the batsmen who were in the beginning of England U19 have been able to score but others batsmen will not do accordingly. India has won the ODI series and they have a chance of winning the Test series as well. England U19 will not do well in the first innings but we have to see what they can do in the second innings. If India is ahead in the first innings, then their chances of winning the second innings will increase further, so the chances of India winning are very high.
I also not very hopeful about England U19 chances to win in this cricket Test match. Since they hav already lost 5 wickets and worried about their other batsmen expect them to lose their remaining wickets quickly tomorrow. You also pointed out well that India is in strong position after winning ODI series and if they get big lead in this game they will likely win Test too. It looks tough situation for England hoping for miracle but not really expecting it.
England Under-19 cricket team performance is very bad as they lost the 5 wickets and situation is in the favour of India Under-19 cricket team because they have big target in this match as they made 540 runs in the first inning and they have upper hand. Many players of India Under-19 team gave big effort and that was team work and all players gave effort to make big score on board. Ayush made century in this match and many players made half centuries in this match but in the third day , England Under-19 cricket team have to play with patience, otherwise they will lose this match by high margin. They should try to draw this match because India Under-19 cricket team is looking in good form.
The first innings of Youth Test came to an end at 540 runs by India Under 19s and England could chase it to 439 runs. At day 3 India is playing its second inning with 2 wickets lost at 109 runs. India performed aggressively in the first innings as Ayush Mehta scored 102 runs and every player contributed great runs. The top and middle order especially destroyed the bowling lineup of England by scoring fifties and closer to centuries. India ended with 540 runs, a huge target which England couldn't chase. England lost 2 wickets early but as the game progressed their players made strong partnerships. Unfortunately England got knocked out at 439 runs so India leaded the first innings by 101 runs. Now India is playing its second innings with a fabulous partnership of 77 runs but the one down player lost wicket very early at 109 runs. India has lost two wickets at 115 runs let's see what's going to happen in upcoming overs.