Code:

<div id="previewimageholder" style="overflow: auto; visibility: visible; border: none; width: 600px;"><img src="http://admin.sajt.com/fajlovi/2_ima-slike.jpg" id="previewimage" /></div>
  <input type="file" name="image" id="image" style="width:300px" onchange="changePic();">
  <script>
  function changePic() {
    if(document.all) {
        document.viewform.previewimage.src=document.getElementById('image').value;
      } else {
        document.getElementById('previewimageholder').innerHTML = "<img src='file:///"+document.getElementById('image').value+"' id='previewimage' />";
      }
    }
  </script>

Code:

Security Error: Content at http://admin.sajt.com/fajl.php may not load or link to file:///D:%5Cmy-photos%5Cff%5Con-guard-small.jpg.