The display on the LCD screen automatically goes off on a bright sunny days when you are about to take photograph and it works perfectly fine.

I own Nikon Coolpix 4600. While taking shots on a bright sunny day the image display on the LCD screen goes off and the LCD screen becomes blank. But if you switch on the camera again and take shots under shade it works fine and if you try again to take a shot out in the sun the LCD screen again goes blank.

Sounds like a failing CCD chip. But then again, if it works fine in shade/low light, then it may also be that your IR sensor is wonky. Try resetting your camera to reload the firmware. I'd also go the Nikon site and see if there's a firmware update. While there, do a search for any service advisories on the off chance it's a fault that Nikon is recalling. In the end, a repair may be the most viable option. But with the age of the camera and the average cost of repairs hovering around $180, you may be better off buying a new camera. But get the estimate for repair first and then you can move on. Or, you can just buy a new camera and use this one as a backup since it takes pictures still.