The Reds went into the season as promotion favourites, but they are languishing in mid-table as things stand and Palmer has urged his teammates to heap further misery on to the Midlands side.
Wednesday travel to the City Ground as the outsiders, but Palmer is only interested in claiming the three points.
"We've got nothing to fear heading down to the City Ground," he told the club's official site.
“We played them at our place and felt we should have at least taken the draw, if not won the game.
“We go there on a good run of form and are looking to get the points, definitely.”
Another defeat for Forest would be a huge set-back for the club and it could spell the end of Stuart Pearce's reign.
Pearce is said to be close to the sack with supporters growing frustrated with their consistently poor results and the atmosphere around the City Ground threatens to turn toxic if the Owls are able to claim the victory.
Wednesday have struggled to string together a run of results, but they have picked up some notable scalps this campaign and it is certainly within their capabilities to inflict another defeat upon Forest.