A man in a blue shirt was arguing with a man in a green jacket and started to raise his fist in anger.
a man argues with another who is raising his fist
The man argues with another man who is raising his fist, and the man in the green jacket raised his fist, so the first man must be the man in the blue shirt.
Man in a blue shirt is a type of man, and raising his fist is a rephrasing of to raise his fist.
The man raising his fist has a blue shirt.