In Full Recovery Model Point in Time recovery of the database is possible as long as you have all the valid database backups along with the transaction log tail backup file. In Full Recovery model all the transactions are retained within the transaction log file until the log file is backed up or the transaction log file is truncated.
Internally how this works in SQL Server, is that all the transactions that are issued against SQL Server will first get recorded within the transaction log file and then based on success or failure/rollback/cancelled of the transaction the data gets written to data file. This actually helps SQL Server to rollback a transaction in case of an error or a user has requested for a rollback. Point in Time recovery is nothing but recovering the data to a point right before a transaction which would have resulted in accidental deletion of data from a table.
In Full recovery model all the bulk operations such as SELECT INTO, BULK INSERT, BCP, CREATE INDEX, ALTER INDEX, and REBUILD INDEX etc are fully logged and it can be recovered using the available backups.
By default whenever a new database is created it will be created using FULL Recovery Model. This is because Model Database is configured to run under Full Recovery Model. When you are using Full Recovery Model database administrator should use a combination of Full, Differential and Transactional Log backups as part of database backup plan to avoid any data loss.
As a Best Practice database administrator should make sure that all the user databases in a Production environment are configured to use FULL recovery model and you are using a combination of Full, Differential and Transactional Log backups as part of database backup plan to avoid any data loss.
ALTER DATABASE MyTechMantra SET RECOVERY FULL
GO

Changing the recovery model of a database will break the backup chain. Hence, as a Best Practice one should immediately take the full backup of the database after changing the recovery model.
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