Molly Meldrum's doctors and loved ones are waiting for swelling of his brain to subside before they learn the full extent of injuries suffered by the music guru in a fall on Thursday.

They are, nonetheless, cautiously optimistic Meldrum will pull through after an uneventful night in an induced coma and in a critical condition at Melbourne's The Alfred Hospital.

Meldrum's manager and long-time friend Mark Klemens said only immediate family and close friends were permitted to visit Meldrum.

"He is still critical," Klemens said. "The night was uneventful. There was no deterioration."