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Default Tom I Know You Can Do It...

I am trying to write a formula by which I could be able to handle 1
conditions in total. Please help me out as Ms Excel can not handle mor
than 7 nested ifs. I have tried almost every thing, but no use. Pleas
show me a way out. How I can work around this situation.
My query is as follows. What I am trying to achieve is this:

Condition 1:

If the value in cell A1=81, and If the value in cell B1=21 then in cel
C3 show "good" else show "NE" (Remember the cell C3 is formatted b
conditional formatting which will turn to green if the value is GOOD i
the value is "NE" then show in yellow color.) Else it will be jus
white for any value.) Any ways conditional formatting is not an issue


Condition 2:

If the value in cell A1=82, and If the value in cell B1=21 then in cel
C3 show "BAD" else show "NE".

Condition 3:

If the value in cell A1=82, and If the value in cell B1=22 then in cel
C3 show "good" else show "NE"

Condition 4:

If the value in cell A1=83, and If the value in cell B1=21 then in cel
C3 show "BAD" else show "NE"

Condition 5:

If the value in cell A1=83, and If the value in cell B1=22 then in cel
C3 show "BAD" else show "NE"

Condition 6:

If the value in cell A1=83, and If the value in cell B1=23 then in cel
C3 show "good" else show "NE"

Condition 7:

If the value in cell A1=84, and If the value in cell B1=21 then in cel
C3 show "BAD" else show "NE"

Condition 8:

If the value in cell A1=84, and If the value in cell B1=22 then in cel
C3 show "BAD" else show "NE"

Condition 9:

If the value in cell A1=84, and If the value in cell B1=23 then in cel
C3 show "BAD" else show "NE"

Condition 10:

If the value in cell A1=84, and If the value in cell B1=24 then in cel
C3 show "BAD" else show "NE

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