<<< I m using a static Ip and not DHCP. >>>
As far as I'm aware it is quite possible to use a Wireless Access Point connected directly to the Cable Modem. However, in the absence of a router, you won't be able to give the PC's Wireless Network Connection a static IP address, because it will need to get the address allocated by the ISP's DHCP server. Unlike your previous setup with a router, it won't be using a LAN IP address in a 192.168.x.0 subnet, the PC will get your public (WAN) IP address.