This particular scene is one of the many dreams that Séverine (Catherine Deneuve) has during the course of Belle de jour - one of Luis Buñuel's many masterpieces during his late French period.
The dolly movements in this particular scene are stunning. The camera dollies out to follow both men as they get to their dueling mark, and then after the shots have been fired, the camera dollies in on Séverine to reveal that one of the bullets hit her in the head. As the camera approaches her, the sound of the ocean accents the scene and further establishes the dream-like quality of the scene.
[For higher quality/resolution, you can also watch this scene here: http://www.youtube.com/watch?v=sE3Num4JycE]