Since past few days, I am having itching, redness and watering eyes.
Thanks for your Question
You said that you have Common cold so in this case most likely you have viral conjunctivitis. The same virus that is causing common cold can also causes viral pink eye and the most common virus is adenovirus.
Use lubricant eye drops and cold compress to ease the redness and itching. You might use mild corticosteroids eye drops such as F.M.L which helps in redness and itching.
Wash your hands and use your own towel as this viral conjunctivitis is highly contagious to others.
Please read this article about pink eye for further information.
Please do not hesitate to let me know if you have any questions or concerns