Check whether ur receiving signals of 11.0592MHz at XTL1. Pin no 19 in DIP.

Have u confirmed ur cricuit to be working? Try to generate a square wave on any of the port pins. This is what i do. Or try to flash LEDs....

Why don't u try this code which has worked for 9600 baud rate with 11.0592Mhz crystal.

MOV SCON,#70H
MOV TMOD,#20H
;MOV PCON,#80H ;FOR 19.2K baud
MOV TH1,#0FDH
SETB TR1

LOOP:

CLR TI
MOV A,#0FFH
MOV SBUF,A
JNB TI,$
CALL DELAY
CLR TI
MOV A,#00H
MOV SBUF,A
JNB TI,$
JMP LOOP

This will generate a squarewave on the TXD pin which is easy to observe through oscilloscope.