Archu, it's a good camera but not the best for the price. I couldn't find good reviews for L120, but based on reviews for L110 which is a model that came out before L120, I wouldn't buy it. it's expensive just because of the name "nikon", but the camera overall can't perform well
i have a similar camera, but different brand - Panasonic Lumix FZ35 and it's a really nice camera and has really good reviews too, if you want to see what is can do, go to youtube and search for fz35 review by cameralabs. it's probably the best megazoom camera you can get (regarding quality) in this price range. photo qualities are great, video features are awesome, it costs slightly more than coolpix L120 (check price on amazon, it's about 297).
my first megazoom camera was fujifilm s1800 (costs about 160 and quality + features run parallel to that of coolpix L110) and it worked fine but was little bit slow and video and dark condition shooting sucked. so I sold it and bought this lumix. this is going to be my camera until i'm able to afford a high-end DSLR.
let me know if you need further help.