How do you go about making a hole in steel trunking that's already fixed in place then? Presumably the punch is quite a stationery tool unlike the drill bit?
A small bit of wood the same width as the trunking is the answer. Bridge the gap at the place you are drilling and this will stop the side of the trunking moving whilst applying pressure with the drill. If the trunking is already in place it must have live cables/wires in it so be careful. Move them out of the way of the forthcoming hole and dont forget that your drilling causes heat which the wires may be near.