Does any one know if there is a limited number of arguments one can nest in an IF formula? I have tried entering 14 conditions and it will not accept after the 8th one. It tells me I have no false value. Or is there something wrong with my formula?

=IF(H45=43.9, "Needles",IF(H45=21.95,"Needles",IF(H45=62.5,"HP",IF(H45=65,"HP",IF(H45=67.5,"HP",IF(H45=70,"HP",IF(H45=130,"HP",IF(H45=135,"HP",if(h45=140,"HP",if(h34=995,"CD",if(h34=1295,"CD",if(h34=1695,"CD",if(H34=1990,"CD",if(h34=2190,"CD"," "))))))))))))))