Trancing your rabbit is a cruel and inhumane practise. Many people believe that it is a fun party trick and that the rabbit has just gone to sleep. This is not true, trancing induces tonic immobility.
Rabbits are prey species and in the wild their final protection technique against predators is to play dead. Hoping the predator will let go of them for long enough that the rabbit can make an escape to freedom.
When you trance your rabbit you are inducing this fear state which makes them act as if they are dead. Your rabbit will actually be petrified and will be in a panicked state.
There is no need to trance your rabbit even for carrying out daily inspections; you can hold them safely and in a way that prevents them from being tranced. Follow this link to find out how to safely hold your rabbit.