A 3-3 draw at Sporting Braga ensured the West Midlands outfit are through to the knockout stages with a game to spare.
Andre Horta scored an early goal for the hosts in Portugal on Thursday night but Wolves kept their cool and stormed into a 3-1 lead. Raul Jimenez's headed equaliser was followed by goals from Matt Doherty and Adama Traore.
Wolves failed to secure all three points, with Braga showing resilience of their own to score two goals through Paulinho and Fransergio.
Despite failing to see out the game when two goals ahead, Nuno was delighted to secure progress through Group K and feels his side have shown great improvement, while there is still more to come from this squad.
"We are trying to develop and improve and to achieve other results. We don't have limits, we always try to keep going," said Nuno.
"We always want to compete, the momentum doesn't mean anything. It was our 26th game, we started very early in the season, but the balance has been good and the team is improving."
After a sluggish start to the Premier League season, partly due to their efforts in the Europa League, Wolves have started to hit their stride and have now gone seven games unbeaten in the league.
Nuno's efforts have not gone unnoticed at Molineux and the Portuguese tactician has been linked with a move to Arsenal, if the Gunners decide to replace current manager Unai Emery.
Having helped guide Wolves up from the Championship to help them secure European football and now Europa League knockout action, it might be tough for Nuno to step away from what he has already achieved at Molineux.
However, opportunities to take a job at a club like Arsenal don't come around often and the lure the Emirates might be a tough one to resist.