Like "Juno" last year and "Little Miss Sunshine" the year before, another independent film has risen to the top of the race for the 81st annual Academy Awards. But where "Juno" and "Sunshine" were stopped short of major Oscar glory, it's looking as though "Slumdog Millionaire" will put a big bite on the ceremonies Sunday night.

Here are my predictions for the top categories.

Best Animated Feature Nominees: "Bolt," "Kung Fu Panda," "WALL·E."

Analysis: From the time it was released last summer, "WALL·E" was considered a shoo-in for a Best Animated Feature nomination, and given the fact that it made many critics' top 10 lists, many considered it a contender for a Best Picture nomination, too. But even with all of the acclaim, "WALL·E" still faces a tough foe with "Kung Fu Panda," which snagged the Best Animated Feature win at the Annie Awards, given out by the International Animated Film Society.

If Academy members are looking to base their votes on technical merits alone, "WALL·E" trumps its competitors. Add a moving narrative to go with all the window dressing, and the little robot that could will add an Oscar to its collection of Earthly trinkets.

Will Win: "WALL·E."
Should Win: "WALL·E."

Best Supporting Actor Nominees: Josh Brolin ("Milk"), Robert Downey Jr. ("Tropic Thunder"), Phillip Seymour Hoffman ("Doubt"), Heath Ledger ("The Dark Knight"), Michael Shannon ("Revolutionary Road").

Analysis: A posthumous win by Ledger appears to be the night's only sure bet. It's important to note that a Ledger win wouldn't be a sentimental or charity win: His ominous presence in the film -- the sort of presence Anthony Hopkins had in his Oscar-winning "Silence of the Lambs" win -- would be top contender if the actor had not died a year ago. If that's not enough, the awards season trends fall almost completely in Ledger's favor with wins in nearly every major supporting actor trophy to date, including the Screen Actors Guild Award.

In the very unlikely case of an upset, Downey would have to be the frontrunner with a brave performance (mimicking an African American character could have been disastrous) that's by far the funniest of the year. The problem is Oscar generally doesn't reward comedy. Hoffman would have a chance, too, with his searing performance in "Doubt," but Oscar is political and rarely awards a performer two Oscars in such a short span of time (he won for 2005's "Capote"). Brolin was great in "Milk" and Shannon was the best thing about the over-rated "Revolutionary Road, but they don't come close to Ledger.

Will Win: Ledger
Should Win: Ledger

Best Supporting Actress Nominees: Amy Adams ("Doubt"), Penelope Cruz ("Vicky Christina Barcelona"), Viola Davis ("Doubt"), Taraji P. Henson ("The Curious Case of Benjamin Button"), Marisa Tomei ("The Wrestler").

Analysis: The supporting actress race may be the toughest to pick since the clear frontrunner prior to the Oscar nominations -- Kate Winslet in "The Reader" -- was nominated in Best Actress category. Tomei, who shocked the Oscars in 1992 with "My Cousin Vinny," gives a winning performance in "The Wrestler," but she doesn't have nearly the impact on her film that Henson does with "Benjamin Button." She's a relatable character that audiences -- and voting members -- can easily embrace.

Adams grabs much more attention in "Doubt" than Davis does, simply because of Davis' lack of screen time. Cruz's performance is aided by the fact that the performance is in a Woody Allen film, and the Academy loves Allen, and Cruz's performance, to boot.

Will Win: Cruz.
Should Win: Henson.

Best Actor Nominees: Richard Jenkins ("The Visitor"), Frank Langella ("Frost/Nixon"), Sean Penn ("Milk"), Brad Pitt ("The Curious Case of Benjamin Button"), Mickey Rourke ("The Wrestler").

Analysis: While this year's class boasts an impressive stock of nominees, the actor that should win the award -- Clint Eastwood (for "Gran Torino") -- wasn't even nominated. Jenkins' nomination is well-deserved, but a nomination is as far as his recognition will go. Langella is brilliant as President Richard M. Nixon and is well-deserving of a win. Pitt proved that he's more than a pretty face in "Benjamin Button," but much of the performance's success is due to the film's stunning make-up and visual effects.

Rourke has sentimentality on his side for "The Wrestler" and deserves a win if he gets it. However, Penn gives an inspiring performance and the acclaimed "Milk" its only chance at a major Oscar. Plus, winning the SAG Award recently for Best Actor gives him momentum. The only thing working against Penn is a recent Oscar win, for Best Actor for 2003's "Mystic River."

Will Win: Penn.
Should Win: Langella.

Best Actress Nominees: Anne Hathaway ("Rachel Getting Married"), Angelina Jolie ("Changeling"), Melissa Leo ("Frozen River"), Meryl Streep ("Doubt"), Kate Winslet ("The Reader").

Analysis: As talented as the other actresses are, this is really a two-person race between Streep and Winslet. Streep has only won two times in her previous 14 nominations -- the last win coming 27 years ago for "Sophie's Choice" -- so she's long overdue. And while Streep is the best overall actress in the category, there's no denying that Winslet is also deserving of an Oscar in her sixth try with no previous wins.

Neither actress can really claim momentum from the SAG awards, since Streep won for Best Actress and Winslet won for Best Supporting Actress. The tie-breaker will ultimately be decided by Winslet's turn in "Revolutionary Road," a strong performance equal to the impact of her "Reader" role. The downside? "Revolutionary Road" was a dud apart from Winslet and fellow nominee Shannon's performances.

Will Win: Winslet.
Should Win: Streep.

Best Director Nominees: Danny Boyle ("Slumdog Millionaire"), Stephen Daldry ("The Reader"), David Fincher ("The Curious Case of Benjamin Button"), Ron Howard ("Frost/Nixon"), Gus Van Sant ("Milk").

Analysis: Since the winner of the Director's Guild of America award almost always goes on to win the Best Director Oscar (oddly enough, Howard -- for "Apollo 13" -- was among the six of 60 previous directors who did not), Boyle clearly has the inside track for "Slumdog." As if that weren't enough, "Slumdog" is steamrolling the competition this movie awards season. Plus, amid his stylish and engaging direction took a group of unknown actors and told one of the most riveting stories of the year.

Since Boyle's stiffest competition wasn't even nominated (Christopher Nolan missed out for "The Dark Knight" despite a DGA nomination), look for little drama when the award is handed out. Fincher may be the only director with a chance at an upset, given that the film earned the most nominations (13) that encompassed a variety of acting and technical categories, which says a lot about the film as a whole. Howard directed "Frost/Nixon" with expertise, but his win in 2002 for "A Beautiful Mind" may give Academy voters a reason to not award him again so soon. When it comes to the top categories, the Academy has always been stingy giving out multiple Oscars.

Will Win: Boyle
Should Win: Boyle

Best Picture Nominees: "The Curious Case of Benjamin Button," "Frost/Nixon," "Milk," "The Reader," "Slumdog Millionaire."

Analysis: In all likelihood "Slumdog Millionaire" will hit the Oscar jackpot, but it's hard to believe that it's based on its best ensemble win at the Screen Actors Guild Awards. The award is SAG's Best Picture equivalent, and there's no way to compare the likes of "Slumdog's" cast to the powerhouse ensemble of "Doubt" -- and that film isn't even nominated in the top category. Even the ensembles "Benjamin Button" and "Milk" are far stronger than "Slumdog's."

"Slumdog" excels, instead, through its storytelling. Thanks to Boyle's masterful interpretation of a complex storyline, the film brings to the fore the plight of impoverished children as they try to survive in horrific circumstances in the slums of Mumbai, India. And while the film's first half is very difficult to watch, "Slumdog" will ultimately triumph for being an uplifting rags-to-riches tale told through an unconventional method. If any film has a chance at derailing "Slumdog," it's "Benjamin Button," a film that is as stunning in its technical presentation as it is in its narrative and performances. Fincher managed to convincingly tell a fantastical story of a character's life backwards -- how often does that happen?

Will Win: "Slumdog Millionaire."
Should Win: "The Curious Case of Benjamin Button."