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Default Connecting multiple IF THEN formulas in one cell

Is it possible to connect more than one formula to a cell? I am fairly new at
this. I have the following formula that works perfectly:

=IF(AND(B6="M",C6="L"),"Moved Down from Medium")

I need to know how to add another formula to the same cell if B6="M",C6="M"
and my result would be "No Movement"

How many separate formulas can apply to one cell?
 
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