A vertical jet of water impinging on a horizontal surface produces a radial film flow followed by a circular hydraulic jump. We report a phenomenon where fairly large (1 ml) drops of liquid levitate just upstream of the jump on a thin air layer between the drop and the film flow. We explain the phenomenon using lubrication theory. Bearing action both in the air film and the water film seems to be necessary to support large drops. Horizontal support is given to the drop by the hydraulic jump. A variety of drop shapes is observed depending on the volume of the drop and liquid properties. We show that interaction of the forces due to gravity, surface tension, viscosity and inertia produces these various shapes.