sureshot, all indications are that you have either a loose mount, a bad scope or a crappy shooting rifle. All three could occur together :eek:
Most likely you have a bad scope but OTOH, I replaced scopes three times on a Handi before I realized the reality that it was a poor shooting rifle. Two of those scopes shoot wonderfully on other rifles!
Also, if you have very high scope mounts it inreases the angle between line of sight and bullet flight path. Most ballistic programs are set up with a 1.5 inch scope height (centerline of scope to centerline of bore). Many Handi shooters have higher mounts to accomadate hammer clearance. The higher your scope is above bore centerline, the more rainbow you will have in your trajectory and thus a higher impact point a say 200 yards than if you had a low scope mount.