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
role="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: