Asking protection for the speaker, listener, teacher, the entire lineage , the one who repeats this Upanishad by committing it to memory, the learner. 

Asking protection from the East, indicating energy of the sun - activity, restlessness etc

Asking protection  from the East, West, North, South, above, below and all around-  from all of the inimical forces

You are sat existence, chit, intelligence and Ananda joy

You are ananta- eternal

You are the knowledge both general and particular. 

You are evident right in front of me!