sure. it is even utilized in trains at the instant. they're spoke of as magazine lev trains or magnetic levitation trains. They use magnets with comparable polarity dealing with one yet another to levitate, and that they use some form of propulsion device, uncertain what it is even with the undeniable fact that.
In order for you to have magnetic levitation u need to balance the floating magnet so that it stays vertical over the other magnet and does not flip over. For this use a transperent plastic tube of slightly larger diameter ( 1or2 mm more) and place the magnet (which you want to levitate) inside it. Fix the second magnet on a hardboard and stick the tube on it. Then see the magic of levitation. If u want this to be a magic trick. then use electromagnet instead of fixed magent and hide it from other. then just switch on the the electromagnet and see the magnet levitate in thin air no rope no tricks. if in case the magnet sticks to the electromagnet, just change the terminals of battery u are using to make the electromagnet. NOTE: electromagents are made by using DC (i.e. battery etc) and not AC (i.e mains)
there are a few options. one would be superconductors. i doubt you have access to liquid nitrogen and superconducting materials however. two you should be able to mount some magnets in a crater shape with all the same pole facing out. then make a ball out of modeling clay or similar material, put strong magnets on it, with all the same pole facing out, opposite pole in the crater. with some correct alignment, you should be able to make the ball hover and spin in the air.
