Punching rhymes with:
bunching, crunching, lunching, munching, branching, bunching, clinching, crunching, drenching, entrenching, flinching, inching, launching, lunching, lynching, munching, pinching, quenching, ranching, retrenching, stanching, unflinching, wrenching
Punching sounds like:
panasonic, panicking, penguins, pensions, phoenicians, pinching, pinging, pouncing, punishing, pyongyang, pyongyang's