I am from India and I have appeared for class 12 cbse exam in march 2017. I wish to take admission to MIT USA for 2017 batch.Is it possible?

No, not possible
SAT is one way to reach american universities which is conducted 6 times in India in a year, but getting into MIT needs a lot more
Olympiad are the best way to reach such universities.
If you reach international level in any international olympiads then you are likely to reach some of the best American colleges, but as far as MIT is concerned from India about 16 students are shortlisted among them about 2-3 students are selected after an interview.

For reaching American college on the basis of Sat you must give an essay exam. for admission in top college(apart from scoring good marks in Sat) essay about yourself is also what matters.

You can also go for Oxford UK by attendeding MAT(Maths aptitude test) and thereafter clearing an interview.
I have less idea about MAT

I have no idea abou foreign studies you may contact a councillor, he/she will gide you in a better way.