Dear aspirant  !
First of all congrats
Well if you are looking cmc , amc, like colleges  then yes of course  you can try for it.
As your  father is in army so your chances are fair in  army Medical college.
That a good point for you.
Also you can Try for the other Medical courses too.
540 is fine marks .
Dear aspirant  kindly mention your category too.
Because this year cutoff goes higher and varies therefore  the completion will  gone very difficult  .
But yes im am suggesting you to go through by state quota counseling process as your chances will
Become  more fair in it.
So all the best 
Thankyou 

CMC Ludhiana

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