After getting the basic idea of a correctly working program, i made my own one. with the idea that the DPTR is already a 16 bit register and therefore i dont need to make the value a correct 16 bit, i used it.
The program is as under
this program is same as the previous but just the values of DPTR is moved and also, i have placed R1 as a checking register of the MSBYTE and LSBYTE of DPTR

ORG 000H
        JMP     MAIN
ORG 023H
        JMP     SERIAL
ORG 030H
MAIN:
        MOV     SCON,#50H
        MOV     TMOD,#20H
        MOV     TH1,#-24
        SETB    TR1
        SETB    EA
        SETB    ES
        MOV R1,#01
        MOV DPTR,#0000H
        MOV SBUF,DPH
        JMP$

SERIAL:
        CLR     TI
        DJNZ R1,SKIP
        MOV R1,#02 ; here you can see that the value of R1 is 2 here so first it will send the MSBYTE and than LSBYTE
        MOV SBUF,DPL
        INC DPTR
        RETI
        JMP$
SKIP:
        MOV     SBUF,DPH
RETI
END


 

I checked this program and i thought that it worked correctly as it was transmitting two different bits serially. and one(LSB) was changing continously but the MSB was same for 256 LSB.