Anand,
What you are looking to do is not possible with the digital lines on the board you have.
Depending on what other connections you have on the board, you could use one of the two analog outputs to generate your required serial data stream using pattern generation. Check the DAQ solution wizard=>Custom DAQ applications=>Analog Output=>Generate continuous sine wave. This example should give you a baseline to get started. Substitute the sine wave generator for your desired digital stream Logic 0 =0V, Logic 1=5V.
If you need more than 2 lines, or some form of handshaking, I would suggest using the PCI-6534 or (DIO-32-HS as it was previously called) This will give you the ability to generate serial data streams with timing and/or handshaking.
Greg Sussman
Sr Business Manager A/D/G BU