The Canaries currently sit in seventh place in the Premier League and have lost only one of their last 12 games, with Wes Hoolahan and Anthony Pilkington in particularly impressive form.
Despite their solid start in the top flight, Norwich have been linked with moves for Brighton striker Craig Mackail-Smith and midfield team-mate Liam Bridcutt.
Hughton said: "Of course if you can strengthen your team you will look to do it, but it is not as easy as that. We have a real competitive group and a strong squad who are all fighting.
"Sometimes players who you might think can strengthen your team, it is not the best time to do that in January. We will look at it, but if you are asking me will we definitely bring in, then I don't know.
"Every match is still tough for us and we have to be on top of our game to win. We know we have to be disciplined in every performance and everything has to be based on a real hard-working team ethic.
"At some stage we will not be able to continue this run because, for a team like us, it is impossible. But at the moment, we are in good form and giving everything to get a result. If you can do that, then you always have a chance."
Norwich visit West Brom this weekend in a battle of the surprise packages - the Baggies will start the game two points and a place ahead of Hughton's visitors.
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