Concept:
Tracing the chronological history of modern Indian studio pottery requires knowing the generations to which prominent artists belong.
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Step 1:
Manisha Bhattacharya (C) represents the contemporary, modern era of Indian ceramics (gaining prominence with her Raku work in the 1990s). She is the youngest in this list.
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Step 2:
P. R. Daroz (D) was born in 1944. Jyotsna Bhatt (E) was born in 1940. Therefore, Daroz is younger than Bhatt.
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Step 3:
Ira Choudhari (B) was born in 1927, making her one of the senior pioneers of the movement.
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Step 4:
Devi Prasad (A) was born in 1921. He graduated from Santiniketan in 1944, making him the absolute oldest and earliest pioneer on this list.
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Step 5:
Ordering them strictly from youngest birth year to oldest birth year gives: Manisha (C), Daroz (D), Jyotsna (E), Ira (B), Devi (A).
\[
\boxed{\text{(4) C, D, E, B, A}}
\]