The near-field interaction due to a strong electromagnetic field induced by resonant localized plasmons can result in a strong coupling of excitonic states or the formation of hybrid excitonplasmon modes in quantum confined structures. The strength of this coupling can be increased by designing a system with its vibronic states resonant to the energy of the driving field induced by the localized plasmon excitation. Silver (Ag) nanoparticles (NPs) nucleated on molybdenum disulfide (MoS2) is an ideal platform for such interaction. The influence of localized plasmons (LSP) on the formation and dissociation of excitons due to resonant and off-resonant optical excitation of carriers to excitonic states is studied using ultrafast optical spectroscopy. The presence of Ag-NPs generates a local field that enhances the magnitude of the Raman modes in MoS2 under the resonant plasmon excitation. An ultrashort pulsed optical excitation at ~ 2.3 eV resonantly excites the LSP modes and the optical near-field resonantly drives the phonon modes, which leads to a coherent coupling of the A and B excitons in MoS2 with the plasmon modes. The localized near-field optical driving source induces dressed vibronic states. The resonant excitation of the LSP modes modulates the optical absorption of the probe field. The optical excitation at ~ 3.0 eV, which is resonant to the C excitonic state but off-resonant to the LSP modes, increases the electrostatic screening in the presence of excess carriers from Ag-NPs. It results in a faster dissociation of optically generated C excitons into free carriers that eventually increases the population of A and B excitonic states. The coherent interaction in the hybrid nano-plasmonic system is described using a density matrix theory.