Hi Bhuvan,
Yes, it is possible. Not having professional experience does not rule you out, though it does put you slightly behind candidates with the same profile who also did an internship or two.
To compensate for that, I would give real space in your CV to extracurricular experiences that show impact, problem solving and leadership.
I would also work on getting a referral before you apply. It is not mandatory, but on a profile like yours it makes a real difference.
On timing, work backwards from the application deadlines of your program's recruiting cycle rather than forwards from how prepared you feel.
If you want something more specific to your situation, feel free to write to me, happy to help.
Best,
Franco