Is it OK to overclock GTX 1650?

A core clock speed increase of 210MHz is good. By pushing the RAM to 700MHz I assume you mean 700MHz over stock clock. If you are using quad pumped numbers, such as shown with MSI afterburner then 700 is not the greatest, however it is much better than stock.

See the most simple answer to this question right here. Answer: The GTX 1650 is a decent budget GPU . However, we highly recommend that you buy the RX 570 instead — it offers better performance at the same price point.

Even if it’s a stable overclock, the fact of the matter is you are running more heat into the part, and that will cause problems and burn something out in the long run . The hotter you run it, the faster the damage will happen. You will always shorten the lifespan of your equipment with overclocking.