Thanks for all the replies. I solved the issue. It really got me for a couple of days.
Being a newbie, thinking that i wont be recording anything serious until i learn to fly flawlessly, i chose to buy the SD card later since there is already some space in the aircraft. Apparently Dji Fly app...
Just bought a new Air 3. It does not show any of the flight modes. When i click on the 'Film roll' button near the shutter button nothing pops up. All firmware are updated. Now I am ably to only take normal videos. I dont have any options of Intelligent flight, Active track or anything else.