New Load balancer in AWS not reachable

So, on a fine sunday evening while playing around with kubernetes, I decided to expose my example application using a load balancer. Since I was testing around, and the application was a sample nginx, I did not bother to customise the security group and ended up using the default security group.

After registering the nodes to a target group and adding the appropriate listener to the load balancer, I sent a request to my load balancer DNS, hoping to see the nginx landing page. Lo and behold, the web request started timing out. I triple-checked the instance health and verified that they were indeed healthy. After 10 more minutes of self-sabotaging my configuration, I started googling why my perfectly configured load balancer is not working properly where I stumbled across a stack overflow post

https://stackoverflow.com/questions/76498527/aws-load-balancer-wont-work-at-all-despite-all-health-checks-working

In a nutshell, the default security group created for the load balancer does not work at all and you have to make manual entries in the secutiry group for the the HTTP/HTTPS traffic.