A merit list score of 123 and a rank of 92 suggests that you have performed quite well, though the chances of admission to a B.A. in Film and Theater will depend on the following factors:

1. **Cutoff Trends**: The cutoff for programs like Film and Theater can vary depending on the institution. If the cutoff for your chosen college or university is around your score, you have a good chance of getting in. If past trends show that candidates with similar ranks were admitted, your chances are higher.

2. **Number of Seats**: The total number of seats available in the B.A. Film and Theater program will also impact your chances. If the program has a limited number of seats and competition is high, your rank of 92 might put you on the borderline for admission.

3. **Reservation or Quota**: If you fall under any reservation category (such as SC/ST, OBC, or EWS), you might have better chances even with a lower score compared to general category applicants.

4. **Waitlist Possibility**: If you're not selected in the first round of admissions, you might still get a chance if seats remain vacant in subsequent rounds.

Check with your institution for specific details regarding seat allocation and cutoff marks.