@Jayanth Rajanna
We only mention Premium storage on that page, but yes you can use Standard disks. This is mentioned on the Linux RAID page. In the Disk Striping section we mention some best practices and also link to other documentation to SQL Server best practices.
For assistance setting up striping in Windows I will refer you to the Storage Spaces documentation. If you have further questions you can post a thread using the appropriate windows-server tag.
-----------------
Please don’t forget to "Accept the answer” and “up-vote” wherever the information provided helps you, this can be beneficial to other community members.