It is not unusual, particularly in young women ,to get a lump under the nipple which is mostly due to hormonal fluctuations.I don't think that you should be worried too much about it.The symptoms you have described don't seem to be indicative of breast cancer.
Usually these lumps tend to get better on their own providing that the area around the nipple doesn't look red and swollen.
Cysts,which are round or oval, appear most often during the two weeks before your period and resolve spontaneously after your period ends.
You could schedule an appointment with your physician and get yourself evaluated clinically if this lump persists.It could also be an injury or an infective process that should be treated with antibiotics.
Hi, Thank you for responding. I appreciate it a lot. Now im a bit relieved to know that it is not an indicative of breast cancer. I am going to see a physician on monday..Thank you so much!!