Depends on whether your ticket is an i-ticket or an e-ticket. If it is an i-ticket, then yes you can travel subjected to TTE's approval.
However, if you have an E-ticket, then if the ticket does not get confirmed till the chart preparation, then your ticket would automatically get canceled and the amount credited back into your banking/credit card account. Also note that if you and your friend have booked a single ticket with both of you as passengers in E-ticketing, then if your friend's status is wait listed, you too can travel and your ticket wouldn't get canceled. Hope this info helps!