It is likely that you have developed tendonitis and bursitis. Following measures would help you;
1) Stop all the exercises for two weeks or till the pain comes down to zero. Than a very gradual exercise regime is started. Ideal would be to start exercise supervised by a physical therapist or MD in physical medicine and rehabilitation.
2) Cold compresses.
3) Local analgesic cream.
5) Knee brace.
6) Knee care in the activities of daily living. Few simple self-care measures can be remarkably effective in ending pain cycle.
a) Avoid prolonged standing or walking or sitting with joint in a single position.
b) whenever you sit, keep the knee stretched and fold them intermittently.
c) Squatting, sitting cross legged should not be done.
d) Avoid climbing stairs.
e) Avoid sitting legs unsupported or hanging. f) Reduce weight if over weight/obese.
7) You may need deep electrotherapy which is done at physical therapy centers.
8) Steroid injection also may be occasionally advised; when above measures are not adequately beneficial
Please feel free for your follow up questions.
I would be happy to assist you further, if you need any more information.