Balotelli struck his first league goal of the season in victory at Wigan Athletic.
Asked if City will allow Balotelli to leave next month, Mancini said: "No it's not true. It's his first goal this season and I hope he can improve after this game.
"We thought of bring Mario off but we thought he was fresher than Aguero.
"We have four top strikers but we've had some difficulty scoring goals like we did last season. I hope we can move on from this. The season is very long, and if a lot of teams are playing in the Champions League in February it can change everything.
"We are at the top with United at the moment but I think Chelsea can fight for the title as well."