I would like to position element above selected text. But I am not able to figure out the coordinates.
var sel = document.getSelection();
if(sel != null) {
Here is the basic idea. You insert dummy element in the beginning of the selection and get the coordinates of that dummy html element. Then you remove it.
var range = window.getSelection().getRangeAt(0);
var dummy = document.createElement("span");
range.insertNode(dummy);
var box = document.getBoxObjectFor(dummy);
var x = box.x, y = box.y;
dummy.parentNode.removeChild(dummy);