Hi Lalit,
So far it seems Feb applicants have very good chance of getting nomination.
Though after some research it is surprising to me that we are expecting February applicants to get nomination. Last year Nova Scotia launched the program "Regional Labour Market Demand Stream" on March 06, 2014 and closed on April 28, 2014. In this time duration they received 3000 applications !! It seems that this year number of applications are less (hopefully) compared to last year. Also, last year, the program was announced with the announcement that the applicants in the queue who will not be in the cap can withdraw their application or can wait for their applications to be processed next year. Though, later they announced that those applications will be void as they will now consider only new applications because of new system which is called Express Entry. And later they returned applications of 2014 on late 2014 and beginning of 2015.
As the Nova Scotia Demand Express entry stream is still open, it might happen that the applications which will not be in this year's cap might be considered for next year (till now it is expected that next year there will be no new system in replace of express entry). For this reason, i recommend to keep applying as the stream is still open. Who knows the applicants may be given priority in the coming year.
One more thing, last year, 2,661 newcomers settled in the province. This included 717 people coming through the Nova Scotia Nominee Program. So they considered few more applications to give nomination though the cap was reached (cap was 700 last year). Though for RLMD stream only 150 nominations were been given.
Good luck for February and also for March applicants to get nomination this year.