The allowed parent is any element that can contain flow elements which is fairly broad. It cannot be a descendent of the address element.
ARIA role attribute value: navigation
The best bet is to use the nav element for major navigation, which is most likely in the header or sidebar. It can also be placed directly within the body, a section, aside or article. It can be used in the footer, but is not normally necessary. You can add a short list of links to the footer without including a nav.
The nav element represents a section of a page that links to other pages or to parts within the page: a section with navigation links. In cases where the content of a nav element represents a list of items, use list markup to aid understanding and navigation. Not all groups of links on a page need to be in a nav element... it is common for footers to have a short list of links to various pages of a site.. but it is usually unnecessary to include a nav in the footer.HTML 5.1 Nightly
The nav element can be a child of most other elements it is most commonly used as a child of: