Authenticate weblogic security realm user against LDAP

I have installed weblogic '10.3.4.0' and created a domain 'business' and created a user 'businessuser' in the default security realm 'myrealm'. The authenticator is a DefaultAuthenticator as in weblogic. Now, I want to authenticate the user in my standalone java application using LDAP. I have also tried changing the LDAP credentials. After executing the application, the system is responding with the following error: javax.naming.AuthenticationException: [LDAP: error code 49 - Invalid Credentials]. Is there any configuration to be done in weblogic that I am missing?

***** CODE-START *****

Properties l_props = new Properties();
LdapContext l_ctx = null;
l_props.put(Context.INITIAL_CONTEXT_FACTORY, "com.sun.jndi.ldap.LdapCtxFactory");
l_props.put(Context.PROVIDER_URL, "ldap://localhost:7001");
l_props.put(Context.SECURITY_AUTHENTICATION, "simple");
l_props.put(Context.SECURITY_PRINCIPAL, "cn=username");
l_props.put(Context.SECURITY_CREDENTIALS, "password");
l_ctx = new InitialLdapContext(l_props, null);

***** CODE-END *****

***** EXCEPTION-START *****

javax.naming.AuthenticationException: [LDAP: error code 49 - Invalid Credentials]
at com.sun.jndi.ldap.LdapCtx.mapErrorCode(LdapCtx.java:3041)
at com.sun.jndi.ldap.LdapCtx.processReturnCode(LdapCtx.java:2987)
at com.sun.jndi.ldap.LdapCtx.processReturnCode(LdapCtx.java:2789)
at com.sun.jndi.ldap.LdapCtx.connect(LdapCtx.java:2703)
at com.sun.jndi.ldap.LdapCtx.<init>(LdapCtx.java:293)
at com.sun.jndi.ldap.LdapCtxFactory.getUsingURL(LdapCtxFactory.java:175)
at com.sun.jndi.ldap.LdapCtxFactory.getUsingURLs(LdapCtxFactory.java:193)
at com.sun.jndi.ldap.LdapCtxFactory.getLdapCtxInstance(LdapCtxFactory.java:136)
at com.sun.jndi.ldap.LdapCtxFactory.getInitialContext(LdapCtxFactory.java:66)
at javax.naming.spi.NamingManager.getInitialContext(NamingManager.java:667)
at javax.naming.InitialContext.getDefaultInitCtx(InitialContext.java:288)
at javax.naming.InitialContext.init(InitialContext.java:223)
at javax.naming.ldap.InitialLdapContext.<init>(InitialLdapContext.java:134)
at com.iflex.fcat.misc.TestLDAP.createInitialLdapContext(TestLDAP.java:258)
at com.iflex.fcat.misc.TestLDAP.authenticate(TestLDAP.java:170)
at com.iflex.fcat.misc.TestLDAP.main(TestLDAP.java:125)

***** EXCEPTION-END *****

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