Fibbonacci retracements on M&M

Are this retracements drawn correct (from high to low in downtrend) ?
If correct, the rule says when bounced from 0% it should move up till next level i.e. 38.2 % right ?

So acc to that the price should be moving till 670 in upcoming weeks ?

Also on 1day chart 20MA has crossed 50MA after very long time…

Common guys this stock must be on your radar. Please share your views.