I have modified it a bit,

MOVL XAR1, #Data
MOVL XAR0, #0x00
MOVL XAR2, #0x00

Loop:
TBIT *XAR1,#XAR2 
BF Loop1, NTC
INR AR0

Loop1:
INR AR2
MOV AL, *XAR0
CMP AL, @0x03
BF Action, EQ

MOV AL, *XAR2
CMP AL, @0x08
BF Loop, NEQ

Loop3:
EXIT

Action: