My CMR is 593 & Category rank is 53. So, what are my chances of NIFT MFM?

Hello,
I would answer your question assuming that you are from any of the reserved category(sc,st or obc) because you have not mentioned your category anywhere and you have secured a good category rank(and it generally happens with the reserved categories)
Chances of you getting into nift are very good.
You can even get admission in nift delhi ,nift mumbai or nift bangalore in the first round of councelling itself.
For better information browse the following link.it might help you. http://www.careers360.com/question-what-is-the-cutoff-for-nift-mfm-this-year
Good luck