NTFS supports symbolic links two different ways: an [[!wikipedia NTFS symbolic link]] and an [[!wikipedia NTFS_junction_point]]. The former seems like the closest analogue to POSIX symlinks.
[NTFS Reparse Points](http://msdn.microsoft.com/en-us/library/aa365503%28v=VS.85%29.aspx) allow a program to define how the OS will interpret a file or directory in arbitrary ways. This requires writing a file system filter.