Thanks for the response. I tried the above option but it looks like it is not working as expected.
When i refresh the page 3 times, and it is correctly displaying the ad and 4th time correctly stopped showing the ad but 5th time again it is showing up and after than never stops.
PS: also, can you confirm how long i need to wait if i make recency/frequency changes in the segment for me to validate again in the page. Is it real time or do i need to wait for an hour to validate that?