Depending on the direction where the light is coming from, the position of the shadow compared to the hands will change in time. So I think you will need 5 tracks; one for the clock, 2 for the hands and two for the shadows.
You can create the hands and the shadows in photoshop. And then rotate the hands and the shadows with the track motion tool. Or maybe you are even satisfied with the shadows created by the track motion tool.
When the hands move fast, you can even use motion blur.
Or is this not what you are looking for?
Theo