Continuation of the trend expected till 122-125 .
see it's triangle pattern in Elliot wave..usually triangle forms before one last move along the trend...usually RSI may start decreasing... before making a top...your observation could be right and RSI can show divergence as per ur observation...
Looking at the chart of Alembic Ltd, it seems that currently, either it is under sideways consolidation zone or it is in the process of making any one of the three "Flat corrective" pattern, whereby after completing its first wave 'a' at 87.45 started from 122.80, and from low of 87.45 it could be making irregular 'b' wave pattern. If it is irregular 'b' wave pattern it shall rise up to 119.30 but not more than 136.30. If these two conditions of Minimum rise and Maximum allowed rise are not fulfilled, than the possibility of Flat Corrective pattern and irregular 'b' wave gets negated. But, if it fulfills the conditions, one could expect a sharp and fall after the completion of irregular wave 'b'.
Also, please mind that taking consideration of other technical parameters on daily, weekly and monthly basis, and the price movement style or pattern, the stock may shoot up to or above the top price of 122.80, giving a false break-out and then give a sharp correction or fall in the stock price.
NOTE: I do not claim any correctness of my study. It is just my views and not any buying or selling recommendation/(s).