Is it possible to receive alert for a particular friend’s activity on Facebook? For instance when he posts/updates on his wall, likes, uploads pics etc.
Yes, it is possible. It is something called "stalking" someone, and Facebook has a feature for that (though not actually created for stalking people).
In Facebook, there is something called the "Close Friends" list on Facebook. If you want to know everything that your friend did, you would add him/her onto this list and even his/her likes will appear on your feed.
Note: Some people don't like the feeling of being "stalked", so use this sparingly.