Digital image watermarking is used to identify the authenticity and integrity and to show the identity of its owners. This paper presents a more secure method for copy right protection. In the proposed method, the color image is decomposed into 3 color channels Red, Green and Blue and then DWT and DCT are applied to B channel of the R, G and B channels. The colored Watermark image is decomposed into R, G, B channels and DCT is applied to all the channels separately. R, G, B channels of watermark image are embedded into mid frequency coefficients of B channel already selected. The performance of proposed algorithm is measured by using Mean Square Error, Peak Signal to Noise Ratio, Standardized Correlation and Normalized Correlation. A comparative study of proposed scheme with the existing methods which uses DWT-DCT transforms is carried here and results shown.