BMW Repair: Gearshift indictor shows wrong selection, indictor, physical position

Question
QUESTION: '99 328i with 112k miles shows wrong selection of gear position.  I'm referring to the center console area with the P, R, N, D, ... When in N, the red bar is over D, etc.  The dashboard display is correct (thankfully!).  How should I go about fixing this.  Seems like something slipped a notch and won't correct itself.  Thanks for you time.

ANSWER: Pramod, Is the Actual Physical gear selected the same the cluster display? If it is, then the issue is purely in the gearshift electrics. I would start there.
-Evan

---------- FOLLOW-UP ----------

QUESTION: Evan,  Yes, the physical position is correct.  It's the red bar that moves along with the physical movement of the gear that's displays incorrectly.  Also, when the lights are on, it gets worse.  There are multiple bars lighting up!  None of this is causing anything wrong with the drive itself.  So I guess it's the electrics.  What is the name of the part I would replace?  Also, how do I get the shift handle cover off when I'm looking to replace the electrical part? It seems the electrical part pops up when pulled, but the handle cover prevents it from coming all the way out.

Answer
Grit your teeth and pull the handle straight up toward the roof and it will come off. The part is called the preselect gear lever cover. There should be a switch that is under the cover the controls where the light comes out. Inspect both the cover and the switch and make your diagnosis from the operation of the two.
-Evan