I have Bachelors degree in Psychology and want to pursue a Masters degree in Information Technology. Would I be a good candidate for an entry level position with in this field?

In IT, there are many things to learn at the Bachelors level before pursuing a higher degree - that is the case with most technical degrees. Usually a person would use a Masters degree in IT if they plan on becoming a manager for their profession, though then they would probably get their Masters in Business Management. If you want to get into some heavy duty details in IT, you'd probably need the lower degree in the same field, but with a degree like Psychology my guess is that you want to manage people or become a Project Manager.

Before you commit to anything, talk to a school counselor. They'll be able to give you answers that are better suited to you.