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hi kuthapi
jobbing is more of an art than a science. hence it is very difficult to explain. u can learn jobbing by observing a good jobber trade, but it is very difficult to explain in words. although I have stopped active jobbing a while back, still I shall try n give u a few pointers on what I used to look at while jobbing:
1.it is important to note the price reactions at round numbers and sub round numbers.( round nos.would be 1000, 1010, 1020...., sub round nos. would be1005, 1015, 1025...)
the emphasis on round nos. becos most of the stop losses are around these nos. study of price action around these levels to note the price behaviour after hitting these levels continues in the same direction or reverses. keep in mind that u get a split second to decide and react.
2. always try n trade in a moving mkt. & not a stationary one as ur risk to reward is very good (if u are correct) in a moving mkt.
3.note the price behaviour on highs & lows. and sub highs & lows. ie. the highs & lows as seen on ur screen, and also short term highs & lows that keep on forming during the day (last 10-15 -20 min. highs & lows)
4.correlation of the particular stock that u are trading in with the index.
5. form an opinion on the direction , (ie. between this level n this level, u would trade only long or vice versa), but (most important) as a jobber, do not marry this opinion, be ready to change this opinion in a split second if anything out of ordinary happens in the stock.( define ordinary and out of ordinary in ur mind & trade accordingly)
6. if u are trading in the capital mkt., trade in a stock which is also in futures, oftentimes(not always) cash would follow futures in most of the stocks. take a cue frm futures..
I know this sounds very confusing, but as I said earlier it is more of an art and not a science. it has to come frm experience. ur subconscious mind should be trained to an extent where it can react to all the possible case scenarios that may occur around the levels that u are watching.
initially, I would advise u to do simple cash to futures arbitrage. keep rotating ur position and observe the mkt.keeping the above pointers in ur mind and whatever else u learn on the way,& maybe after a few months, when u are confident u may switch to single mkt. jobbing.
hope this helps u in some manner
regards
.. 
