Step 1: Understanding the Concept:
The menstrual/ovarian cycle consists of several phases regulated by hormones from the pituitary and ovaries.
Step 2: Detailed Explanation:
In a typical 28-day cycle, the follicular phase lasts about 13 days.
Around the $14^{th}$ day, there is a surge in Luteinizing Hormone (LH surge) and Follicle Stimulating Hormone (FSH).
This LH surge induces the rupture of the Graafian follicle and the release of the secondary oocyte (ovum), a process known as ovulation.
This marks the midpoint of the cycle.
Step 3: Final Answer:
Ovulation typically takes place on Day 14 of a 28-day cycle.