Webstorm provides some built-in boilerplate templates for creating projects with NodeJS and Express support. I was creating a project from scratch without using template provided in Webstorm. Until I tried creating a project this way, I did not appreciate how much grunt work the boilerplate does for you to set up appropriate settings for your project.
When I started writing very first line of codes like require('http'), I noticed that Webstorm editor intellisense did not recognize this very fundamental NodeJS function. After digging around, I found out that Webstorm does not enable support for Node by default for a blank project. You will have to do it your self.