I also wanted to draw attention to this asset class which is still not getting much attention.
One can trade CDS and options on NSE for very low margin.
e.g. Intraday margin of 700 INR for 1K lot. And about 1400 INR to carry positions overnight.
This is not bad. 1 lot will result in INR 1000 pnl for 1 Rupee movement. Much better to trade legally than through illegal (in India) forex spot markets.
For this trade, target would be around 72.0000