In contrast to their hosts, Celta are winless in six La Liga games after Carlos Carvahal begin his reign as manager with a 2-1 defeat to Osasuna.
Match preview
Rayo may have lost four of their opening eight league games this season, but in recent weeks they have proven to be one of the most in-form sides in La Liga after collecting 11 points from a possible 15.
Only Barcelona have picked up more points than Los Franjirrojos across the last five games, and they demonstrated that they are capable of competing with La Liga's biggest clubs in Monday's superb home victory over Real Madrid.
Goals from Luka Modric and Eder Militao looked to have turned the game on its head after Santi Comesana gave the hosts an early lead, however, Alvaro Garcia restored parity to ensure the two sides headed down the tunnel at half time on level terms.
Oscar Trejo looked to have spurned the opportunity to put Rayo in front when his spot-kick was saved by Thibaut Courtois, but after Dani Carvajal was ruled to have encroached, Trejo scored what proved to be the winning goal with his retaken penalty.
With four wins from their last five home games, Rayo will be confident of recording all three points, especially as they have won 10 of their previous 11 home matches against Celta in the topflight.
After losing 3-1 away to Almeria, Celta decided it was time for a change of head coach, replacing Eduardo Coudet with Carvalhal.
The former Braga manager began his reign with a home meeting against Osasuna, but he was unable to get off to a winning start as his side fell to a narrow 2-1 defeat.
Having lost five of their last six games, the Galicians currently sit in the relegation zone, however, a victory in their final league match before the World Cup break could be enough to move them out of the bottom three.
If they are to end their winless run on Thursday, Celta need to improve defensively after conceding 26 goals from 13 league games.
Since beating Girona in their first away match of the season, the visitors have also struggled on their travels, losing their all of their last five away games.
Rayo Vallecano La Liga form:
L
D
D
W
W
W
Celta Vigo La Liga form:
L
L
L
D
L
L
Team News
Although there are doubts over Andrés Martín's fitness, Rayo boss Andoni Iraola is expected to the majority of his squad available to him.
Oscar Trejo returned to the side for the 3-2 win over Real Madrid, and he is expected to retain his place, with Iraola set to name an unchanged lineup.
Sergio Camello will continue to lead the line for the hosts, and the 21-year-old will be looking to add to the two goals he has scored this season.
As for the visitors, they are expected to be without the services of Augusto Solari, Hugo Mallo and Luca de la Torre due to injury issues.
Gabri Veiga missed the defeat to Osasuna through suspension, but he could return to the starting lineup for Thursday's contest.
Iago Aspas has top-scored for his side this season with seven goals, and he is expected to be joined in the forward line by Jorgen Strand Larsen.
Rayo Vallecano possible starting lineup:
Dimitrievski; Balliu, Lejeune, Catena, F. Garcia; Comesana, Valentin; Palazon, Trejo, A. Garcia; Camello
Celta Vigo possible starting lineup:
Marchesin; Mingueza, Nunez, Aidoo, Galan; Oscar, Beltran, Veiga, Cervi; Aspas, Larsen