I have live rtmp stream which I want to push to windows media service as mms stream . Is this possible ?
No, it's not possible according to a MS Employee (Microsoft, MSFT) at the TechNet Forums for a recently asked question titled RTMP to MMS restreaming.
Usually you would encode the original media file in the stream formats you need, and do consider using a Streaming Service that specializes in this type of service requirement.
More about the RTMP protocol with streaming examples HERE.