Los Che finished eighth last season in what was a disappointing campaign.
However, the former Spanish champions have started this season in fine fashion, with 17 points from their seven matches leaving them in second position in the table.
Nuno has previously played down talk of a title challenge, but has said that a Champions League position is firmly in his sights.
"We have to be in the Champions League in my opinion. It's easy to say that, but you have to feel it, and that feeling is present here. Now we have to work day-by-day towards achieving that goal," he told vcfplay.com.
Valencia return to league action away to Deportivo La Coruna this weekend.