Officially opening tomorrow, Nuno – whose side are looking to kick off 2021 with a win at Brighton – has until February 1 to add to his squad.
The Portuguese has made no secret of his desire to sign a new striker while Raul Jimenez recovers from surgery for a fractured skull.
And when asked about potential reinforcements, Nuno said: “Of course, we have to sit down, plan.
“I think that it’s a good chance to rebalance our squad.
“We will see, but we are ready to make decisions.”
Wolves have already been linked with several strikers but for now, teenager Fabio Silva is the only fit centre forward.
The 18-year-old has done well so far while fellow youngsters Ki-Jana Hoever, also 18, and Rayan Ait-Nouri, 19, impressed in the loss to Manchester United in midweek.
Nuno has often shown faith in young players and said: “I already trusted them before the game. You trust them because you know they work hard.
“We know they are young and there will be mistakes, but it’s up to us to correct the mistakes and make them become better.
“It’s simple. We’ll try to improve them. Football is made up of good moments and bad moments, and it’s about how they react to it.”
On the state of his squad, Nuno added: “The answer in terms of fitness (at United) was very good.
“We had only 48 hours between the games and the effort of the boys was really good.
“I usually don’t make assessments like this but it’s a season of new challenges and we are reacting as things go by.
“It’s a new cycle for us, a day-by-day process. We’re working on a daily basis.”