To adjust elevation, you can use a taller or shorter front sight bead. Go down to the local gun shop or 'smith and have a shorter bead installed to move the point of impact up (you'll be raising the muzzle to draw a bead), a taller bead to move the point of impact down (you'll be lowering the muzzle). The little beads are about $5.00 installed.
You can also try using "heavier" or "lighter" loads in your barrel. "Heavier" loads (that move the bullet faster) will shoot lower. Lighter loads will shoot higher. This is because the slower the bullet leaves the barrel, the more you have moved up and down when it comes out of the barrel. The slower the bullet/lighter the recoil - the higher it hits the target because the muzzle has risen more as the bullet leaves the barrel.
Are you following me? I know that sounds bass-ackwards - it seems that the more a gun kicks, the higher the bullet should hit the target - but the converse is actually what happens (generally speaking). There's actually a "curve" that happens that correlates bullet weight/velocity if you plot it on a sheet of graph paper.
It's a little hard to explain, but I'll give you an example...my Ruger Mark II shoots great with 36 grain hollow points, but shoots high with 40 grain solids. Basically the powder charge is the same between the two different cartridges.
