  AdS_2/CFT_1 correspondence leads to a prescription for computing the
degeneracy of black hole states in terms of path integral over string fields
living on the near horizon geometry of the black hole. In this paper we make
use of the enhanced supersymmetries of the near horizon geometry and
localization techniques to argue that the path integral receives contribution
only from a special class of string field configurations which are invariant
under a subgroup of the supersymmetry transformations. We identify saddle
points which are invariant under this subgroup. We also use our analysis to
show that the integration over infinite number of zero modes generated by the
asymptotic symmetries of AdS_2 generate a finite contribution to the path
integral.
