Not really what it is designed for. You need some sort of magnification for it to work, so I guess if you had a magnifier it would work. It is great for getting you on paper, but it won't be exact. It's also great if you want to return to zero after you've logged where that is on the boresight grid. Personally I think it is the best boresight out there. Only downside is if your muzzle device is made of some sort of alloy and the magnet doesn't stick to it very well.
ETA: Also if your scope's Height-over-bore it too high, it won't work.