Connecting phone to PC internet using Connectify

I am trying to connect my phone running ICS to my PC running Windows 7 to the internet using Connectify. Everything goes fine except when the phone tries to connect to my laptop wifi hotspot, it gets stuck at obtaining IP address . I tried to set the ip address to static in android but now it says connected but actually the phone is not connected to the internet. As a static IP and DNS1, I set the address provided for the connectify network created in windows. I set the network length to 24 cuz without setting any value for network length, I wasn't able to save the setting in my phone. How can I solve this problem?