Yes, it is possible for the pump to be 180 out -- you have to line up the notch on the pump shaft to the opposite corner on some pumps. You may also have set the injection pump on the exhaust stroke, too -- check injection timing and look at the cam lobes. I'll never start if you inject 180 out. It should puff white smoke, though.
Did you set the timing with the drip tube? If not, you need to.
Of couse, this is MUCH easier on the engine stand before you put the motor back in........
It may take a while to get the engine started, too. If you don't have white smoke coming out of the tailpipe, I wouldn't rule out needing to crank longer.
Did you bleed the pump competely? Do you have good fuel delivery from the feed pump? I ask, because it took three battery charges and two batteries to get my brother's 300D started after rebuilding the motor.
1972 220D ?? miles
1988 300E 200,012
1987 300D Turbo killed 9/25/07, 275,000 miles
1985 Volvo 740 GLE Turobodiesel 218,000
1972 280 SE 4.5 165, 000 - It runs!