The New Jersey Nets shut off Indiana with five points in a third five-minute overtime, during which Micheal Ray Richardson scored six of his career-high 38, and introduced the 1985-86 Pacers to the loss column last night. The final score in East Rutherford, N.J., was 147-138.

Buck Williams furnished 20 points and 23 rebounds to the victory. New Jersey is 2-2, Indiana 1-1.

Richardson rounded out his effort with 11 rebounds, 11 assists and nine steals. He had nine points in the fourth quarter as the Nets wiped out a 16-point deficit.

The 6-foot-5 guard, who missed a 25-foot jumper at the buzzer in regulation, opened the third overtime by sinking a 22-foot jumper from the top of the key.

Herb Williams, who led the Pacers with 28 points, made one of two free throws, making it 135-134. The Nets ran off the next 12 points.

Otis Birdsong had 28 points and Darryl Dawkins 25 for the Nets, who trailed by 19 points in the third period before rallying to break a two-game losing streak.

The first overtime ended at 123-all when Herb Williams missed a 22-foot jumper at the buzzer.

Richardson, whose previous career high was 36, had four points in the first overtime and six in the second extra period, which ended 133-133 as Birdsong missed an 18-foot jumper at the buzzer.