Nifty future on 4 may 2016 closed at 7733 with loss of 51 points. Short call below7820 given almost 90 points gains. While in the money put option zooming with big gains. For 5 may 2016, nifty future will head towards my tgt 7605. For intraday 7715 and 7650 are support a well as shorts targets. On upside niftyintraday resistances are 7755 and 7798.