  The high-spin states in odd-odd $^{194}$Tl nucleus have been studied by
populating them using the $^{185,187}$Re($^{13}$C, xn) reactions at 75 MeV of
beam energy. $\gamma-\gamma$ coincidence measurement has been performed using
the INGA array with a digital data acquisition system to record the time
stamped data. Definite spin-parity assignment of the levels was made from the
DCO ratio and the IPDCO ratio measurements. The level scheme of $^{194}$Tl has
been extended up to 4.1 MeV in excitation energy including 19 new gamma ray
transitions. The $\pi h_{9/2} \otimes \nu i_{13/2}$ band, in the neighboring
odd-odd Tl isotopes show very similar properties in both experimental
observables and calculated shapes. Two new band structures, with
6-quasiparticle configuration, have been observed for the first time in
$^{194}$Tl. One of these bands has the characteristics of a magnetic rotational
band. The cranked shell model calculations, using a deformed Woods-Saxon
potential, have been performed to obtain the total Routhian surfaces in order
to study the shapes of the bands and the band crossing in $^{194}$Tl. The
semiclassical formalism has been used to describe the magnetic rotational band.
