That's a plausible theory. Though I don't think that's all.
The first hypnosis on Mowgli took the longest, with several points where Mowgli almost snapped out of it, visibly fighting back. If you look at the gif here >>107162745
the appearance of a black dot for a pupil represents the return to a conscious state, while the free flowing of rings represents successful hypnosis. The pupils first shrink down to a point before expanding into a ring, as can also be seen here >>107162798
, and as the pupil tries to reconstitute itself it is scattered into a ring again, causing multiple rings to form.
The pic I'm posting shows the moment where Mowgli comes closest to breaking out; the pupil not only remains, it expands, before shrinking down and collapsing again. This is a tug of war of willpower, one that Mowgli ultimately loses. After being partially wrapped up, the battle is already lost; the pupils dont constitute anymore and are only rings now, and Mowgli looks much more lethargic and less responsive.