You can overclock FX 6300 but not with that motherboard(even with water cooling), has only 3+1 phase VRM and no heatsinks.
Will need something with better power phase design for safe and stable OC.
This motherboard is sufficient for overclocking FX 6300 to 4.3-4.5 GHz and is best at its price range→Asus M5A97 R2.0. Will not require water cooling with this combo, something like CM Hyper 212 Evo is enough.