I'm working on a way to reference a cell contained text, rather than the cell itself. Is there a way to do this?

Basically, in cell A3 I have a formula that returns the name of my desired named range based on other input data, be it NamedRange1 or NamedRange2 or so on and so forth. I have written another formula in other cells that will use this resultant text name of that named range to then change the results in that cell. That formula looks like this:
=INDEX($A$3,1,1)
I was thinking this would then use the value found in cell A3, being NamedRange1, to refer to that array and then return the appropriate cell, but instead, it returns #VALUE.

Is there a way for the formula to read only the text in the "target" cell (A3) and return the data from the named range I want?