Observations of the redshifted 21 cm HI fluctuations promise to be an important probe of the post-reionization era ( z \leq 6 ) . In this paper we calculate the expected signal and foregrounds for the upgraded Ooty Radio Telescope ( ORT ) which operates at frequency \nu _ { o } = 326.5 { MHz } which corresponds to redshift z = 3.35 . Assuming that the visibilities contain only the HI signal and system noise , we show that a 3 \sigma detection of the HI signal ( \sim 1 { mK } ) is possible at angular scales 11 ^ { { } ^ { \prime } } to 3 ^ { \circ } with \approx 1000 hours of observation . Foreground removal is one of the major challenges for a statistical detection of the redshifted 21 cm HI signal . We assess the contribution of different foregrounds and find that the 326.5 MHz sky is dominated by the extragalactic point sources at the angular scales of our interest . The expected total foregrounds are 10 ^ { 4 } -10 ^ { 5 } times higher than the HI signal .