Started with a Sphere and a groundplane. Applied a cloud texture alpha-map to the sphere.  A point light  inside the sphere casts raytraced transparency shadows on the groundplane (with maximum shadow bias) below.



Increased the Nor value to 25.

Added specular red color. 

 

 

 

Range value of 5.0

Added global ambient red color.

 

 

 

 

Shadow bias on the groundplane was reset to 0. 

Increased the Range value to 2.0. 

                                                     

*Update* 

Range value of 0.4 and Exposure of  0.0

I apologize for mentioning incorrect values for Range (0.5) and Exposure (0.1)