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This paper proposes a novel cache architecture -Way Halted Prediction -to reduce energy consumption and effective access time of set associative caches. This is achieved with the help of halt tag array and prediction circuit. Experimental evaluation of various SPEC benchmark programs on CACTI 5.3 and CASIM simulators reveal that the proposed architecture offers 33%, 6% and 3% savings in dynamic energy consumption and 1.80%, 6.13% and -1.95% saving in effective access time over conventional, way predicting and way halting cache architectures respectively.