Exactly where you might beat The Hammers? (2,3,4)

I believe the answer is:

on the nail

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'exactly' is the definition.
(I've seen this before)

I can't explain the rest of the clue.

(Other definitions for on the nail that I've seen before include "Where a hammer might go" , "location of solution for digital protection" , "Promptly" , "Exact" , "Where a coat may be hung" .)

I've seen this clue in The Independent.

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