I tried something similar last week - sighting in by adjusting the reticle to the initial point of impact.
The scope was mounted and "boresighted" in a shop but even at 50 yards it was way off.
I had the rifle in a Caldwell Lead Sled so it was fairly easy to hold the rifle on the initial point of aim and the adjust to the initial point of impact.
New rifle first 9x shots and average factory ammunition - here are some photos and notes.
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