double fallack?

is it possible to make two fallback techiques in a shader?
I mean something like this:
technique original
{
pass p0
{
//for shader model 2.0
}
}
technique fallback1
{
pass p0
{
//for shader model 1.4
}
}
technique fallback2
{
pass p0
{
//engine rendering
}
}
is this possible?

yes

thanks