Magento: How to Create Shopping Cart Price Rule programmatically

Here is the code snippet by which we can create Magento shopping cart price rule, i.e the rule which is applied on shopping cart while customer add his/her product to shopping cart.

shopping cart price rule can be divided in 3 parts
1. Information of the rule
2. Condition that will be applied on the rule.
3. Action that will be taken.

$name = "cutom programmatically created rule"; // name of  Rule
$websiteId = 1;
$customerGroupId = 2;
$actionType = 'by_percent'; // discount by percentage(other options are: by_fixed, cart_fixed, buy_x_get_y)
$discount = 10; // percentage discount
$sku = 'RBT67'; // product sku
$shoppingCartPriceRule = Mage::getModel('salesrule/rule');
$skuCondition = Mage::getModel('salesrule/rule_condition_product')
try {
} catch (Exception $e) {