Yes, it is possible.
1. Use your data brackets to contain the style you want in your text, as in:
<styleinPageMaker> Your text goes from here ...
NOTE: The name in the data brackets must match the style name in your PageMaker document EXACTLY -- and it is case sensitive.
2. When you place the copy in PageMaker, check the Read Tags radio button in the Place dialog box.
3. Place your text.
Realize, though, that you have to do this perfectly. If you enter the tags and don't check the Read Tags radio button, or if you miss on the name of the tag, every paragraph will start just like what you saw in the text file, as in:
<styleinPageMaker> Your text goes from here ...
And you'll have to clean it out in PageMaker and restyle it.