tranny stuck in first after burt wire smell

I have a 97 z24 with auto tranny. I while back I got in to my car and left for work and not to long after I smelled burt wires. I was late so i just drove. It will not shift out of first gear now. My ? is could it wires inside the tranny that i smelt?   Wireing is not my thing so I just parked it.  If I knew it was just the tranny I would put a new in.  Any advice would be helpful.  With the price of gas I sure miss my car.  thanks