Hi Aashi,

You have scored a decent rank in IPU CET. Since you have the defence quota and there are 5% seats reserved for Defence quota. And according to the official records the closing rank for MA English was 301. Which shows you have a good chance of getting a seat. I am giving down the link to the official records  after the 2nd round of year 2018-19 :

https://ipuadmissions.nic.in/publicinfo/Handler/FileHandler.ashx?i=File&ii=415&iii=Y

I hope it helps.

Good Luck!!