The Saddlers boss has so far overseen a busy January with Matt Jarvis, Omar Mussa, Scott Laird, Cameron Norman and Dan Scarr all arriving.
Wingers Josh Ginnelly and Kieron Morris have also left the Banks's Stadium. But following those departures, the squad looks light in wide areas.
Keates is also believed to be after a striker before the window closes at 11pm tomorrow.
"We need to make sure we go into the tail end of the season in the strongest position possible," the boss said.
"We want to add a couple of bodies and hopefully that will be done.
"We are looking at adding one or two in the next 24 hours. All being well we can get the right ones in."
As well as arrivals, Keates also refused to rule out more departures before the deadline.
"That is a possibility – anything can happen," the boss continued.
"It is going to go crazy over the next 24 hours and has already started picking up pace.
"The phone is non-stop. You can never say never in football. You think you might get something and then with one phone call, things change.
"We are trying to add, will players go out? That is also a possibility."