Identifying the same physical point in more than one image, the correspondence problem, is vital in motion analysis. Most research for establishing correspondence uses only two frames of a sequence to solve this problem. By using a sequence of frames, it is possible to exploit the fact that due to inertia the motion of an object cannot change instantaneously. By using smoothness of motion, it is possible to solve the correspondence problem for arbitrary motion of several nonrigid objects in a scene. We formulate the correspondence problem as an optimization problem and propose an iterative algorithm to find trajectories of points in a monocular image sequence. A modified form of this algorithm is useful in case of occlusion also. We demonstrate the efficacy of this approach considering synthetic, laboratory, and real scenes.