I HAVE A MICRA 2005 MODEL WITH NO POWER. WHEN THE CAR IS IN NEUTRAL CAR REVS FINE, THE MOMENT YOU SELECT 1ST GEAR ENGINE LABOURS AND REVS UP VERY SLOWLY AND DOESNT REV PASED 4000 RPM PLEASE ADVISE

Sound like bad transmission. Will it go into reverse?

sound like your transmission is slipping you need to take it to a transmission shop

The Dealer can adjust SHIFT POINTS, there is nothing you can do with this.

Check out all the wiring connections having anything to do with your transmission. Some wire has dislodged.

Not an expert on non-us Nissans, but there should be a clutch switch to prevent you from cranking the engine in gear.
I would check the circuit with that switch.

try adding heavy gage ground wire(s) to fire wall, starter bolts anywhere that looks like thick steel.

Sounds like a clutch problem to me.
So, with the engine off, can you select all gears? If yes, your gearbox is probably OK.
And now with the engine idling, can you select any gears with out crunching? If this is difficult, then try this next test in an area where movement forward or backwards won't be a problem.
With the engine OFF, foot ON the clutch, the handbrake OFF, and in 1st gear, start the car. BE READY TO TURN IT OFF.
If the car moved forward as you cranked the engine, then your clutch is not adjusted properly or has worn out. That is more-than-likely the smell you got before - burnt clutch disc from it slipping.
You can drive it, but every time you want to start off, you'll have to turn the engine off, select 1st then start the engine. Accelerate slowly, making sure the revs don't rise faster that you're speeding up, and change gear by judging engine revs between gears.
Don't keep driving it as it is, as you WILL have gearbox problems if you don't fix the clutch.

flywheel needs replaced; or linkage is loose; Could be low on fluid

Your linkage could be loose; low on transmission fluid; or you need a new flywheel

Sounds a whole lot like something inside the trans has failed...Time for a trip to the trans shop!!!1
sorry to hear that!!! Warning light came on and usually will set a code that indicates mismatch of speed & rpm.