The chances are very bleak and almost non-existent.
Nowadays, PEC is going through a space crunch, since the number of seats has been increased by a large amount in recent years. Authorities give top priority to students from outside the Chandigarh quota.
New hostels are being considered and Shivalik Hostel was recently expanded into a new block, the lack of rooms to house all of the students comfortably is still a sore point. The number of seats has increased but hostel capacity remained the same.
Hence, by chance, if Hostels do not get filled up completely, you can definitely get a hostel at PEC. So, unless a new batch of students shows a great reduction in hostlers, you should not expect to get accommodations in the hostel.