@Reema and @ManPreetkaur,
Thanks for your help.Using AddRegexCellStyle serves the purpose.But still this is not what exactly I wanted.I will explain the issue.
The column which I am planning to blink have Item type and other column active_ind is related to former column.So Item type will have value either Y or N.And depending on the value of Active_ind column,blinking should be achieved in Item type column.I hope you are getting my point.
and once again,thanks a lot for your help,angels:-)