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We propose a state from the two-dimensional conformal field theory on the orbifold $(T^4)^N/S(N)$ as a dual description for a pulsating string moving in $AdS_3$. We show that, up to first order in the deforming parameter, the energy in both descriptions has the same dependence on the mode number, but with a non-trivial function of the coupling., 10+4 pages. Misprints corrected. References added. Version published in Nuclear Physics B