Minimal conf;

worker_processes 4;

events {
worker_connections 8192;
}

http {
include mime.types;
default_type application/octet-stream;

stream {
upstream stream_backend {
server 192.168.222.22:810 weight=5;
server 192.168.222.17:810 weight=5;
}
}

server {
listen 12345;
proxy_pass stream_backend;
}

}

nginx -t
nginx: [emerg] "stream" directive is not allowed here in conf\nginx.conf:11
nginx: configuration file conf\nginx.conf test failed

Whats incorrect here then?

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nginx for Windows http://nginx-win.ecsds.eu/