Reflection coefficient basic doubt

So will the reflected & forward waves will be 150 degree out of phase??
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Yes,if s11 has been measured correctly. According to the s11 definition, s11 = +1 (φ = 0) is referring to an open circuit, respectively a reflected in phase with forward wave. s11 = -1 (or φ = 180°) means short cicruit, respectively reflected wave out of phase. The phase beyond +/-90° refers to a z11 real part < 50 ohm. You can visualize the impedance composition and refelction factor in a Smith chart.

I presume, that the device under test is placed correctly in the reference plane, otherwise yo get an additional phase shift, that can be considered either by a user open/short/load calibration with the correct reference plane or a "port extension" (shifting the reference plane by a known cable length).

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