Since you've been allotted Electrical Engineering at IGIT Sarang (4th choice) and your top 3 preferences are at VSSUT Burla which is a more reputed institute with better academics and placements it's wise to choose "Float" and try for a higher option in the next 2 OJEE rounds. If your rank is close to the previous cutoffs of your preferred branches at VSSUT, your chances are decent.

Also, if you're eligible for CSAB counselling (through JEE Main) and interested in getting into NITs, IIITs, or GFTIs, you should participate. It provides another good opportunity, especially if your JEE rank is within range of those institutes' cutoffs.