Will I have enough time to cover these places in a day?

No, you cannot cover these places just in one day, you need at least 2-3 days for that. If you do not have that long time, I suggest visit one of these two ancient towns, for they are much similar.

Wuzhen is about 50 miles from Zhouzhuang, and wuzhen is about 46 miles from Hangzhou. From Zhouzhuang, there is no direct bus to Wuzhen, so you are suggested to take a bus to JIaxing first, and then take a bus from Jiaxing to Wuzhen. From Wuzhen bus station, there are direct buses to Hangzhou. The travel time is about 1.5 – 2 hours.