The Reds moved up to eighth in the npower Championship with a 3-0 win over Crystal Palace on Saturday.
And Davies has urged the board to back him when the January transfer window opens, as he endeavours to deliver promotion to the Premier League.
The Forest boss told the Nottingham Evening Post: "I said in the summer we needed three to five stellar signings. In January, we need new players and quickly.
"I need support at the right time. The difference between the top and bottom team in this division is a coat of paint. With the greatest of respect, there is no outstanding team.
"There's no doubt we can get promoted. We're sitting in a healthy position and now is the time to strike. I'll do the job the best I can. I've got faith in my own ability and have got a wonderful staff. But at the same time we can only recommend and hope people listen."
Source: PA
Source: PA