Is it possible to identify a wallet from an address? I want to know is there anyway to identify a particular wallet (its username or email address) on the basis of a Bitcoin receiving address which is generated from that wallet. I am posting that address below:

1F5b254fXvpVqCKPMwF3tL1aKzCQSf4koe
No, there is not.

Bitcoin is what is called "pseudonymous", meaning that a bitcoin address does not reveal information about the owner of that address.  Bitcoin addresses (like the one you posted) are derived by using two types of cryptographic operations, elliptic curves and hash functions...both of which only operate in one direction.  Even if you could reverse this process for a given address, all you have is a private key.  That private key does not contain any information about who generated the key, nor which other keys/addresses are associated with it.

There are blockchain analysis techniques that can be performed to attempt to associate a bitcoin address with other addresses (with a variable degree of certainty), but even that will not give you what you are looking for unless you can associate one of those addresses with someone's identity.  This would require your query to be supplemented with additional information not found on the Bitcoin blockchain.  If you do not possess that additional information, you cannot associate an address with an identity.