The Portuguese is looking to act when the transfer window reopens after losing star man Raul Jimenez through injury.
Although he has previously been reluctant to speak too much about the club’s plans for next month, Nuno has now revealed they are in the market for a centre forward while the Mexican recovers from surgery for a fractured skull.
When asked if they need to go in January with an open mind, he said: “The transfer window is an opportunity for all the clubs to rebalance their squads.
“It can be with players coming in or going out.
“An open mind, I will not say that, but be aware and react if that’s the case.”
And on if he is happy with the balance of his squad, Nuno stated: “No, I’m not happy.
“I’m not happy because unfortunately we had a big, huge situation with one of our important players.
“They are out for some time with a serious situation.
“What happened with Raul is difficult, and that’s why I’m not happy with the balance of the squad.
“For all the things that he represents for us, we miss him a lot, of course.
“I think that we need to rebalance the squad.”
Wolves – linked with the likes of Hulk, Salomon Rondon and Divock Origi recently – spent a club-record £35million on Fabio Silva in the summer.
They are happy with his progress, too, but feel the area needs bolstering, although the cash spent on the 18-year-old makes a mega-money January move more unlikely.
The club could go down the loan-with-option route which has worked well on several occasions for them in the past, while a permanent move is not off the table.
Nuno, meanwhile, says it remains too early to put a time frame on Jimenez’s return to the fold – but says he is in good spirits and making good progress while regularly meeting up with the rest of the squad at Compton.
“He’s progressing and improving very well,” he added.
“There’s no timetable, no date on that, because first of all, he must recover his health.
“Then, we’ll think about his returning, but he’s positive and was with us (on Thursday) again.
“He’s around, getting better, and will return stronger.”