The Wolves boss has only added one first team player to his squad this January as Olympiakos attacker Daniel Podence joined his Premier League outfit.
But when asked about new additions, he would not rule out recruitment before tonight's 11pm deadline.
He said: "Until the moment is over, you know this transfer window, you've been seeing things happen so far, so anything can happen.
"The window is not closed yet, after it is I think we can have a good conversation about what happened.
"We have to realise what happens in the January transfer window.
"It is a tough moment to operate in. As a club and in football.
"Sometimes you have to realise it is a time to rebalance your squad, take advantage of the chances you can have but it is not the best moment to operate in business
"For all the clubs, the agents, everything is very difficult."
Portuguese attacker Podence has replaced now Fiorentina loanee Patrick Cutrone as Wolves' number 10.
Cutrone struggled for minutes due to the form of 20-goal top scorer Raul Jimenez.
And when asked if he was looking for a back-up for Jimenez, Nuno says he is aware of the situation but Wolves will have to wait for the right man.
He said: "I'm not looking for anything.
"It is not the point of looking. We are aware of the situation.
"It is a difficult transfer window to operate in.
"Sometimes what you want is not possible. So you have to wait.
"We do not work on the basis of replacements, we work on the basis that we bring players in that we think can help us.
"No matter what happens. Do you understand?
"We don't work on 'if' (or) 'just in-case'. It does not make sense."
But he is keen to improve that area in the summer.
When probed on if he was happy going forward with his striking options he answered: "I'm happy with the squad but I think inside the squad there is a space for improvement."
The Wolves boss also said he is satisfied ending the window with less first team bodies than anticipated as Ryan Bennett nears Jesus Vallejo and Cutrone out of the door.
And he wished the defender well as he prepares to join their top flight rivals on an initial loan move, with a view to a £5m summer switch.
Development squad striker Benny Ashley-Seal is also set to clinch a loan move to League One side Accrington before the window ends.
Nuno said: "Benny has been helpful for us.
"He participates in a lot of moments for us. During several competitions. There is an option.
"As I said, all parties have to be agreed on that,
"If we see it is better for Benny then for sure, we will do it."
Wolves are set to announce a deadline day deal for highly-rated Rochdale full-back Luke Matheson.
But he will be sent straight back to the League One side on-loan until the end of the season.
He will join fellow January academy incomings PSV Eindhoven defender Nigel Lonwijk, Barcelona SC attacker Leonardo Campana and Den Bosch midfielder Justin Hubner as signings for the future.