As I gather
he is getting a bit stream of 40 pulses on one line and
after caputuring this 40 bit pattern he wants to
drive some 40 output circuit (may be lamp or LED)
(" I want to input these 40 input of some driver circuit)
He wants to do serial to parallel conversion
am i right mr Huzefa ? is it like this
input stream 01011100...............40(bit)

1 bit 0 --> driver 1
2 bit 1 --> driver 2
.
3 bit 1 --> driver 3
4 bit 1 --> driver 4
.
.
40 bit --> driver circuit 40

Anil